Ferrari (NYSE:RACE) Upgraded by Kepler Capital Markets to Buy Rating

Ferrari (NYSE:RACE) was upgraded by equities researchers at Kepler Capital Markets from a “hold” rating to a “buy” rating in a research note issued on Friday, Marketbeat Ratings reports.

Other equities analysts have also recently issued research reports about the stock. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a report on Thursday, February 6th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. decreased their price target on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a report on Thursday. Finally, StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $497.86.

Ferrari Stock Performance

Shares of Ferrari stock opened at $426.66 on Friday. The business has a 50-day simple moving average of $456.12 and a 200 day simple moving average of $452.75. Ferrari has a one year low of $399.27 and a one year high of $509.13. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The firm has a market capitalization of $103.41 billion, a price-to-earnings ratio of 46.63, a PEG ratio of 4.43 and a beta of 0.94.

Hedge Funds Weigh In On Ferrari

Several institutional investors have recently added to or reduced their stakes in the stock. HBK Sorce Advisory LLC boosted its stake in Ferrari by 3.6% in the fourth quarter. HBK Sorce Advisory LLC now owns 626 shares of the company’s stock valued at $266,000 after acquiring an additional 22 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in shares of Ferrari by 4.4% in the 4th quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock worth $251,000 after purchasing an additional 25 shares during the period. Garde Capital Inc. lifted its stake in Ferrari by 5.0% in the fourth quarter. Garde Capital Inc. now owns 525 shares of the company’s stock valued at $223,000 after purchasing an additional 25 shares during the last quarter. PDS Planning Inc grew its holdings in Ferrari by 4.8% during the fourth quarter. PDS Planning Inc now owns 589 shares of the company’s stock valued at $250,000 after purchasing an additional 27 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its position in Ferrari by 10.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock worth $140,000 after buying an additional 30 shares during the last quarter.

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.