Kepler Capital Markets Reiterates Hold Rating for Ferrari N.V. (RACE)

Kepler Capital Markets restated their hold rating on shares of Ferrari N.V. (NYSE:RACE) in a research report released on Monday, May 15th, StockTargetPrices.com reports.

Other equities analysts have also issued research reports about the stock. Jefferies Group LLC set a $96.00 price objective on shares of Ferrari N.V. and gave the stock a buy rating in a report on Saturday, May 6th. Zacks Investment Research upgraded shares of Ferrari N.V. from a sell rating to a hold rating and set a $95.00 price objective on the stock in a report on Wednesday, May 10th. Bank of America Corporation boosted their price objective on shares of Ferrari N.V. from $82.00 to $90.00 and gave the stock a buy rating in a report on Monday, May 15th. TheStreet upgraded shares of Ferrari N.V. from a d+ rating to a c rating in a report on Wednesday, March 29th. Finally, Citigroup Inc. upgraded shares of Ferrari N.V. from a neutral rating to a buy rating in a research note on Thursday, March 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $81.60.

Ferrari N.V. (RACE) traded up 0.55% on Monday, reaching $88.03. The company’s stock had a trading volume of 414,781 shares. The company has a 50 day moving average of $84.97 and a 200 day moving average of $69.69. The firm has a market capitalization of $16.63 billion, a price-to-earnings ratio of 33.66 and a beta of 1.66. Ferrari N.V. has a 52 week low of $38.71 and a 52 week high of $91.94.

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Large investors have recently modified their holdings of the stock. AKO Capital LLP bought a new stake in shares of Ferrari N.V. during the fourth quarter worth about $241,983,000. Norges Bank acquired a new stake in shares of Ferrari N.V. during the fourth quarter worth $146,658,000. Price T Rowe Associates Inc. MD increased its stake in shares of Ferrari N.V. by 16.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 16,053,532 shares of the company’s stock worth $832,697,000 after buying an additional 2,325,508 shares in the last quarter. Baillie Gifford & Co. increased its stake in shares of Ferrari N.V. by 9.0% in the fourth quarter. Baillie Gifford & Co. now owns 18,155,973 shares of the company’s stock worth $1,058,995,000 after buying an additional 1,501,128 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Ferrari N.V. by 102.8% in the first quarter. JPMorgan Chase & Co. now owns 1,830,812 shares of the company’s stock worth $136,139,000 after buying an additional 928,230 shares in the last quarter. Institutional investors and hedge funds own 32.90% 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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