Ferrari NV (NYSE:RACE) shares traded up 5.9% during trading on Tuesday . The company traded as high as $123.06 and last traded at $121.75. 1,402,384 shares changed hands during trading, an increase of 124% from the average session volume of 626,091 shares. The stock had previously closed at $115.01.
A number of research analysts have commented on the stock. ValuEngine downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Zacks Investment Research downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. Morgan Stanley reiterated an “equal weight” rating and set a $140.00 price objective (up from $120.00) on shares of Ferrari in a research note on Tuesday, October 2nd. Societe Generale upgraded shares of Ferrari from a “sell” rating to a “hold” rating and increased their price objective for the company from $94.00 to $130.00 in a research note on Wednesday, October 10th. Finally, Credit Suisse Group increased their price objective on shares of Ferrari from $156.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, September 20th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $145.67.
The company has a current ratio of 3.36, a quick ratio of 2.71 and a debt-to-equity ratio of 2.00. The company has a market cap of $25.87 billion, a P/E ratio of 38.45, a price-to-earnings-growth ratio of 2.16 and a beta of 1.19.
Large investors have recently modified their holdings of the business. Financial Gravity Wealth Inc. acquired a new stake in shares of Ferrari during the first quarter worth $131,000. Nisa Investment Advisors LLC acquired a new stake in shares of Ferrari in the 2nd quarter worth about $155,000. Sfmg LLC acquired a new stake in shares of Ferrari in the 2nd quarter worth about $214,000. Opera Trading Capital acquired a new stake in shares of Ferrari in the 2nd quarter worth about $247,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ferrari in the 2nd quarter worth about $272,000. 34.26% of the stock is currently owned by institutional investors.
Ferrari Company Profile (NYSE:RACE)
Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports cars, GT cars, special series cars, limited edition supercars, limited editions series, and one-off cars; and open air roadsters and two-seater mid-rear-engined roadsters.
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