Ferrari (NASDAQ:RACE) has been given an average rating of “Hold” by the seven analysts that are presently covering the company. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $63.67.
RACE has been the topic of a number of research analyst reports. Berenberg Bank initiated coverage on shares of Ferrari in a research note on Tuesday, November 22nd. They issued a “buy” rating on the stock. Zacks Investment Research upgraded shares of Ferrari from a “sell” rating to a “hold” rating in a research note on Tuesday, December 20th. Morgan Stanley boosted their target price on shares of Ferrari from $60.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, February 8th. Finally, Jefferies Group LLC initiated coverage on shares of Ferrari in a research note on Monday, March 13th. They issued a “buy” rating and a $74.00 target price on the stock.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Carroll Financial Associates Inc. boosted its position in Ferrari by 0.5% in the third quarter. Carroll Financial Associates Inc. now owns 7,714 shares of the company’s stock worth $400,000 after buying an additional 35 shares during the last quarter. First New York Securities LLC NY bought a new position in Ferrari during the third quarter worth $908,000. Nikko Asset Management Americas Inc. bought a new position in Ferrari during the third quarter worth $145,000. Aperio Group LLC boosted its position in Ferrari by 11.3% in the third quarter. Aperio Group LLC now owns 140,073 shares of the company’s stock worth $7,266,000 after buying an additional 14,200 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Ferrari by 3.6% in the third quarter. Bank of New York Mellon Corp now owns 350,522 shares of the company’s stock worth $18,181,000 after buying an additional 12,167 shares during the last quarter.
Shares of Ferrari (NASDAQ:RACE) opened at 68.00 on Thursday. The company has a 50-day moving average price of $65.38 and a 200 day moving average price of $57.05. Ferrari has a 52-week low of $38.71 and a 52-week high of $69.50. The firm has a market capitalization of $12.85 billion and a PE ratio of 30.56.
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