Ferrari (RACE) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Ferrari (NYSE:RACE) from a sell rating to a hold rating in a research note released on Wednesday.

According to Zacks, “Ferrari N.V. is engaged in designing, manufacturing and selling sports cars. Its products include sports car models consists of 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. The Company also produces a limited edition supercar, LaFerrari and limited series and one-off cars. It operates primarily in Europe, the Middle East, India, Africa, Americas, Greater China and Rest of Asia-Pacific region. Ferrari N.V. is headquartered in Maranello, Italy. “

RACE has been the topic of several other reports. BidaskClub cut shares of Ferrari from a strong-buy rating to a buy rating in a research report on Thursday, November 9th. TheStreet upgraded shares of Ferrari from a c rating to a b- rating in a research report on Friday, October 20th. Jefferies Group lifted their price target on Ferrari to $130.00 and gave the stock a buy rating in a research note on Friday, December 8th. Finally, HSBC initiated coverage on Ferrari in a research note on Monday, December 11th. They issued a hold rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $114.71.

Shares of Ferrari (RACE) traded up $1.58 during trading on Wednesday, reaching $120.96. 358,476 shares of the company’s stock traded hands, compared to its average volume of 439,723. The company has a current ratio of 3.26, a quick ratio of 2.68 and a debt-to-equity ratio of 2.77. Ferrari has a 12-month low of $60.01 and a 12-month high of $121.18. The company has a market capitalization of $22,560.00 and a PE ratio of 40.45.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.72 by $0.15. Ferrari had a net margin of 15.06% and a return on equity of 106.38%. equities research analysts anticipate that Ferrari will post 2.89 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC increased its stake in Ferrari by 1.2% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,976 shares of the company’s stock worth $162,000 after purchasing an additional 24 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Ferrari by 6.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,917 shares of the company’s stock worth $165,000 after purchasing an additional 119 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Ferrari by 2.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 10,568 shares of the company’s stock worth $907,000 after purchasing an additional 267 shares in the last quarter. Cookson Peirce & Co. Inc. increased its stake in Ferrari by 5.7% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 5,010 shares of the company’s stock worth $431,000 after purchasing an additional 270 shares in the last quarter. Finally, D.A. Davidson & CO. increased its stake in Ferrari by 24.3% in the 3rd quarter. D.A. Davidson & CO. now owns 2,510 shares of the company’s stock worth $277,000 after purchasing an additional 491 shares in the last quarter. 31.85% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This news story was first published by Ticker Report and is the property of of Ticker Report. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States & international copyright and trademark law. The legal version of this news story can be accessed at https://www.tickerreport.com/banking-finance/3147864/ferrari-race-rating-increased-to-hold-at-zacks-investment-research-2.html.

About Ferrari

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.

Get a free copy of the Zacks research report on Ferrari (RACE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Ferrari (NYSE:RACE)

Receive News & Ratings for Ferrari Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferrari and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


© 2006-2018 Ticker Report. Google+.