Ferrari (NYSE:RACE)‘s stock had its “buy” rating reaffirmed by UBS Group in a report issued on Monday, The Fly reports. They currently have a $160.00 price target on the stock, up from their previous price target of $129.00. UBS Group’s price target would suggest a potential upside of 26.97% from the stock’s current price.
RACE has been the subject of a number of other reports. Zacks Investment Research upgraded Ferrari from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th. Morgan Stanley upped their price objective on Ferrari from $100.00 to $105.00 and gave the stock an “underweight” rating in a report on Wednesday, February 14th. HSBC started coverage on Ferrari in a report on Monday, December 11th. They set a “hold” rating for the company. Jefferies Group upped their price target on shares of Ferrari to $130.00 and gave the stock a “buy” rating in a research report on Friday, December 8th. Finally, BidaskClub cut shares of Ferrari from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Ferrari presently has a consensus rating of “Hold” and a consensus target price of $123.57.
Shares of Ferrari (RACE) opened at $126.01 on Monday. The company has a market capitalization of $24,430.00 and a price-to-earnings ratio of 44.68. 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 twelve month low of $64.94 and a twelve month high of $131.20.
A number of large investors have recently bought and sold shares of RACE. Arrowstreet Capital Limited Partnership boosted its position in Ferrari by 194.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,238,194 shares of the company’s stock valued at $234,710,000 after buying an additional 1,477,464 shares during the last quarter. WCM Investment Management CA purchased a new position in Ferrari in the 3rd quarter valued at about $108,587,000. Amundi Pioneer Asset Management Inc. purchased a new position in Ferrari in the 4th quarter valued at about $72,805,000. Wells Fargo & Company MN boosted its position in Ferrari by 579.6% in the 3rd quarter. Wells Fargo & Company MN now owns 646,247 shares of the company’s stock valued at $71,399,000 after buying an additional 551,149 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in Ferrari by 44.2% in the 4th quarter. Deutsche Bank AG now owns 1,228,151 shares of the company’s stock valued at $128,756,000 after buying an additional 376,174 shares during the last quarter. 33.38% of the stock is owned by institutional investors.
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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