Ferrari (NYSE:RACE) Upgraded by Barclays to Overweight Rating

Ferrari (NYSE:RACE) was upgraded by Barclays from an “equal weight” rating to an “overweight” rating in a research note issued on Friday, Marketbeat Ratings reports.

Several other brokerages have also commented on RACE. JPMorgan Chase & Co. cut their price objective on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. Finally, StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Ferrari has a consensus rating of “Moderate Buy” and an average target price of $497.86.

Ferrari Price Performance

Ferrari stock opened at $429.93 on Friday. The stock has a market cap of $104.21 billion, a price-to-earnings ratio of 46.99, a PEG 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 business has a 50-day simple moving average of $456.00 and a 200 day simple moving average of $452.36. Ferrari has a 52 week low of $399.27 and a 52 week high of $509.13.

Institutional Trading of Ferrari

Several hedge funds have recently added to or reduced their stakes in RACE. Vanguard Group Inc. grew its stake in shares of Ferrari by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company’s stock valued at $2,002,581,000 after buying an additional 45,754 shares during the last quarter. Bank of Italy boosted its holdings in Ferrari by 2.8% during the 4th quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock valued at $1,002,392,000 after acquiring an additional 63,675 shares during the period. Price T Rowe Associates Inc. MD grew its position in Ferrari by 49.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company’s stock worth $763,125,000 after acquiring an additional 594,547 shares during the last quarter. Norges Bank purchased a new position in Ferrari in the 4th quarter worth approximately $697,226,000. Finally, Bank of New York Mellon Corp lifted its position in Ferrari by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock valued at $684,888,000 after purchasing an additional 38,356 shares during the last quarter.

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.