Ferrari (NYSE:RACE) Raised to Buy at StockNews.com

Ferrari (NYSE:RACE) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Several other analysts also recently commented on the stock. Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a report on Thursday, February 6th. They set a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Stock Down 2.2 %

NYSE:RACE opened at $440.34 on Wednesday. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13. 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 stock has a market cap of $106.73 billion, a price-to-earnings ratio of 48.12, a PEG ratio of 4.43 and a beta of 0.94. The stock has a 50-day moving average price of $453.74 and a two-hundred day moving average price of $456.01.

Institutional Trading of Ferrari

Several institutional investors have recently added to or reduced their stakes in RACE. Hanson & Doremus Investment Management bought a new stake in Ferrari in the 4th quarter valued at about $26,000. Planning Capital Management Corp bought a new position in shares of Ferrari in the third quarter worth $30,000. Ashton Thomas Securities LLC acquired a new position in Ferrari in the third quarter valued at about $33,000. Park Square Financial Group LLC acquired a new position in Ferrari in the fourth quarter valued at about $32,000. Finally, Hobbs Group Advisors LLC bought a new stake in Ferrari during the third quarter worth about $47,000.

Ferrari Company Profile

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.