Shares of Ferrari NV (NYSE:RACE) have been given a consensus recommendation of “Hold” by the eleven brokerages that are presently covering the firm. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $49.40.
Several analysts have weighed in on RACE shares. Vetr cut shares of Ferrari NV from a “buy” rating to a “hold” rating and set a $45.17 price objective for the company. in a research note on Wednesday, June 8th. Morgan Stanley lifted their price objective on shares of Ferrari NV from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 17th.
Shares of Ferrari NV (NYSE:RACE) traded up 0.06% during trading on Monday, hitting $51.90. 172,330 shares of the stock were exchanged. The firm has a market capitalization of $9.81 billion and a P/E ratio of 27.05. Ferrari NV has a 52 week low of $31.66 and a 52 week high of $60.97. The firm has a 50 day moving average price of $48.85 and a 200 day moving average price of $44.28.
Several large investors have recently made changes to their positions in RACE. Baker Ellis Asset Management LLC bought a new stake in shares of Ferrari NV during the first quarter valued at about $309,000. Edmond DE Rothschild Italia SGR SPA bought a new stake in shares of Ferrari NV during the first quarter valued at about $717,000. East Coast Asset Management LLC. bought a new stake in shares of Ferrari NV during the first quarter valued at about $824,000. Edmond DE Rothschild Holding S.A. raised its stake in shares of Ferrari NV by 583.4% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 25,484 shares of the company’s stock valued at $1,060,000 after buying an additional 21,755 shares during the period. Finally, AXA bought a new stake in shares of Ferrari NV during the first quarter valued at about $1,125,000. 26.83% of the stock is currently owned by institutional investors.
Ferrari NV Company Profile
Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
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