Ferrari (NYSE:RACE) Raised to Buy at Kepler Capital Markets

Ferrari (NYSE:RACE) was upgraded by research analysts at Kepler Capital Markets from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, MarketBeat Ratings reports.

Several other equities research analysts also recently issued reports on RACE. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research report on Thursday, February 6th. They set a “hold” rating on the stock. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $497.86.

Ferrari Stock Performance

NYSE RACE opened at $426.66 on Friday. The firm has a market cap of $103.41 billion, a P/E ratio of 46.63, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The company’s 50 day moving average is $456.12 and its 200-day moving average is $452.75. Ferrari has a 12-month low of $399.27 and a 12-month high of $509.13.

Institutional Investors Weigh In On Ferrari

Several hedge funds have recently bought and sold shares of the stock. Thrivent Financial for Lutherans increased its holdings in shares of Ferrari by 63.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,709 shares of the company’s stock worth $1,274,000 after buying an additional 1,051 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Ferrari by 24.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,384 shares of the company’s stock worth $4,412,000 after acquiring an additional 1,864 shares in the last quarter. Townsquare Capital LLC increased its stake in Ferrari by 24.8% in the third quarter. Townsquare Capital LLC now owns 5,435 shares of the company’s stock valued at $2,555,000 after acquiring an additional 1,079 shares during the last quarter. CreativeOne Wealth LLC purchased a new stake in Ferrari during the third quarter valued at about $1,041,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Ferrari by 1.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,737 shares of the company’s stock worth $39,223,000 after purchasing an additional 988 shares during the last quarter.

About Ferrari

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.