Ferrari (NYSE:RACE) Upgraded to “Overweight” at Barclays

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

A number of other analysts have also issued reports on the stock. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. lowered their target price on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $497.86.

Ferrari Price Performance

RACE stock 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 debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13. The stock has a 50-day simple moving average of $456.12 and a 200-day simple moving average of $452.75.

Institutional Investors Weigh In On Ferrari

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hanson & Doremus Investment Management bought a new stake in shares of Ferrari in the 4th quarter worth approximately $26,000. Park Square Financial Group LLC acquired a new position in shares of Ferrari during the fourth quarter valued at $32,000. Armstrong Advisory Group Inc. grew its position in shares of Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after acquiring an additional 50 shares during the last quarter. Kestra Investment Management LLC bought a new stake in Ferrari in the 4th quarter valued at about $45,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Ferrari during the third quarter worth approximately $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.