Ferrari (NYSE:RACE) Reaches New 12-Month High at $155.54
Shares of Ferrari NV (NYSE:RACE) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $155.54 and last traded at $154.63, with a volume of 318200 shares trading hands. The stock had previously closed at $154.72.
Several analysts have recently issued reports on RACE shares. Credit Suisse Group boosted their price target on shares of Ferrari from $148.00 to $158.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. HSBC lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Morgan Stanley raised shares of Ferrari from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $140.00 to $160.00 in a research report on Thursday, May 9th. ValuEngine lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, Redburn Partners started coverage on shares of Ferrari in a research report on Wednesday, June 5th. They issued a “neutral” rating and a $143.04 price target on the stock. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $141.56.
The company has a debt-to-equity ratio of 1.39, a quick ratio of 3.67 and a current ratio of 4.27. The firm has a market capitalization of $29.22 billion, a price-to-earnings ratio of 38.02, a P/E/G ratio of 2.35 and a beta of 1.32.
A number of institutional investors have recently bought and sold shares of RACE. Ellis Investment Partners LLC bought a new stake in Ferrari during the 1st quarter worth approximately $27,000. Bronfman E.L. Rothschild L.P. increased its holdings in Ferrari by 36.3% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 398 shares of the company’s stock worth $40,000 after acquiring an additional 106 shares during the period. Capital Advisors Ltd. LLC bought a new stake in Ferrari during the 1st quarter worth approximately $48,000. Quad Cities Investment Group LLC bought a new stake in Ferrari during the 4th quarter worth approximately $50,000. Finally, Kore Private Wealth LLC bought a new stake in Ferrari during the 1st quarter worth approximately $67,000. 35.99% of the stock is currently owned by institutional investors and hedge funds.
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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, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.
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