Ferrari (NYSE:RACE) was upgraded by Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, The Fly reports.

Other analysts also recently issued research reports about the stock. HSBC downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Bank of America raised their price objective on shares of Ferrari from $150.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Evercore ISI upgraded shares of Ferrari from an “in-line” rating to an “outperform” rating in a report on Thursday, May 23rd. UBS Group raised their price objective on shares of Ferrari from $160.00 to $187.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. They noted that the move was a valuation call. Finally, Morgan Stanley raised their price objective on shares of Ferrari from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $166.93.

Shares of RACE stock traded up $2.81 on Tuesday, hitting $160.82. The stock had a trading volume of 196,410 shares, compared to its average volume of 414,836. The company’s 50 day moving average is $163.80. The company has a market cap of $30.38 billion, a PE ratio of 40.00, a price-to-earnings-growth ratio of 2.31 and a beta of 1.34. The company has a debt-to-equity ratio of 1.48, a quick ratio of 3.20 and a current ratio of 3.77. Ferrari has a 12-month low of $93.85 and a 12-month high of $170.54.

Ferrari (NYSE:RACE) last announced its earnings results on Friday, August 2nd. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.06. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.08 billion. Ferrari had a net margin of 23.42% and a return on equity of 50.99%. As a group, equities analysts forecast that Ferrari will post 4.19 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ellis Investment Partners LLC bought a new position in Ferrari during the first quarter worth about $27,000. Atlas Capital Advisors LLC boosted its position in Ferrari by 63.4% during the second quarter. Atlas Capital Advisors LLC now owns 219 shares of the company’s stock worth $36,000 after purchasing an additional 85 shares during the period. Commonwealth Bank of Australia boosted its position in Ferrari by 44.4% during the second quarter. Commonwealth Bank of Australia now owns 231 shares of the company’s stock worth $36,000 after purchasing an additional 71 shares during the period. Advisory Services Network LLC boosted its position in Ferrari by 121.6% during the second quarter. Advisory Services Network LLC now owns 246 shares of the company’s stock worth $40,000 after purchasing an additional 135 shares during the period. Finally, Capital Advisors Ltd. LLC bought a new position in Ferrari during the first quarter worth about $48,000. Institutional investors and hedge funds own 35.80% of the company’s stock.

About Ferrari

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

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Analyst Recommendations for Ferrari (NYSE:RACE)

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