Zacks Investment Research downgraded shares of Ferrari N.V. (NYSE:RACE) from a strong-buy rating to a hold rating in a report published on Tuesday, July 11th.

According to Zacks, “Ferrari N.V. is engaged in designing, manufacturing and selling sports cars. Its products include sports car models consists of 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A as well as two grand tourer (GT) cars: California T and FF. The Company also produces a limited edition supercar, LaFerrari and limited series and one-off cars. It operates primarily in Europe, the Middle East, India, Africa, Americas, Greater China and Rest of Asia-Pacific region. Ferrari N.V. is headquartered in Maranello, Italy. “

Several other research analysts also recently issued reports on the stock. UBS AG reiterated a buy rating and set a $100.00 price target (up previously from $92.00) on shares of Ferrari N.V. in a research report on Tuesday, July 11th. Jefferies Group LLC reiterated a buy rating and set a $74.00 price target on shares of Ferrari N.V. in a research report on Tuesday, April 18th. Morgan Stanley reduced their price target on shares of Ferrari N.V. from $100.00 to $72.00 and set an overweight rating on the stock in a research report on Monday, May 8th. Bank of America Corporation upped their price target on shares of Ferrari N.V. from $82.00 to $90.00 and gave the stock a buy rating in a research report on Friday, May 5th. Finally, Kepler Capital Markets reiterated a hold rating on shares of Ferrari N.V. in a research report on Monday, May 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Ferrari N.V. has a consensus rating of Buy and an average target price of $91.67.

Ferrari N.V. (NYSE:RACE) traded up 1.29% during mid-day trading on Tuesday, hitting $110.56. 406,503 shares of the company’s stock were exchanged. The stock has a market capitalization of $20.87 billion, a P/E ratio of 37.30 and a beta of 1.82. Ferrari N.V. has a 52 week low of $46.38 and a 52 week high of $110.89. The firm has a 50 day moving average of $93.00 and a 200 day moving average of $77.93.

Ferrari N.V. (NYSE:RACE) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.13. The business had revenue of $1.01 billion for the quarter. Ferrari N.V. had a net margin of 14.43% and a return on equity of 128.49%. Equities analysts forecast that Ferrari N.V. will post $3.09 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AKO Capital LLP increased its position in Ferrari N.V. by 31.1% in the first quarter. AKO Capital LLP now owns 5,441,163 shares of the company’s stock worth $400,203,000 after buying an additional 1,289,839 shares during the last quarter. Geneva Advisors LLC acquired a new position in Ferrari N.V. during the first quarter worth about $441,000. Cookson Peirce & Co. Inc. increased its position in Ferrari N.V. by 33.1% in the first quarter. Cookson Peirce & Co. Inc. now owns 4,740 shares of the company’s stock worth $352,000 after buying an additional 1,180 shares during the last quarter. Wetherby Asset Management Inc. increased its position in Ferrari N.V. by 3.1% in the first quarter. Wetherby Asset Management Inc. now owns 5,575 shares of the company’s stock worth $415,000 after buying an additional 169 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Ferrari N.V. by 54.9% in the first quarter. Russell Investments Group Ltd. now owns 85,992 shares of the company’s stock worth $6,411,000 after buying an additional 30,462 shares during the last quarter. Institutional investors own 32.54% of the company’s stock.

Ferrari N.V. Company Profile

Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.

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Analyst Recommendations for Ferrari N.V. (NYSE:RACE)

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