Ferrari (NYSE:RACE) Stock Rating Upgraded by Barclays

Ferrari (NYSE:RACE) was upgraded by analysts at Barclays from an “equal weight” rating to an “overweight” rating in a report issued on Friday,Benzinga reports.

A number of other analysts also recently commented on the company. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $497.86.

Ferrari Trading Up 3.1 %

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

Institutional Trading of Ferrari

Several hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in Ferrari during the fourth quarter valued at $697,226,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Ferrari by 49.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company’s stock valued at $763,125,000 after purchasing an additional 594,547 shares during the period. Barclays PLC increased its holdings in shares of Ferrari by 198.0% in the 4th quarter. Barclays PLC now owns 853,971 shares of the company’s stock valued at $362,802,000 after purchasing an additional 567,407 shares during the period. Marshall Wace LLP lifted its position in shares of Ferrari by 62.1% in the fourth quarter. Marshall Wace LLP now owns 1,358,467 shares of the company’s stock worth $579,561,000 after purchasing an additional 520,337 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Ferrari by 380.7% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company’s stock worth $107,770,000 after purchasing an additional 192,694 shares during the period.

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.