Ferrari (NYSE:RACE) Rating Lowered to Buy at BidaskClub

BidaskClub cut shares of Ferrari (NYSE:RACE) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday, November 9th.

RACE has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Ferrari from a hold rating to a buy rating and set a $112.00 target price on the stock in a research report on Saturday, July 22nd. UBS reiterated a buy rating and issued a $125.00 price target (up previously from $100.00) on shares of Ferrari in a report on Wednesday, August 9th. Goldman Sachs Group initiated coverage on shares of Ferrari in a report on Wednesday, September 13th. They issued a neutral rating and a $131.00 price target on the stock. TheStreet raised shares of Ferrari from a c rating to a b- rating in a research note on Friday, October 20th. Finally, Evercore ISI raised their target price on shares of Ferrari from $46.00 to $105.00 and gave the company an in-line rating in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $109.86.

Ferrari (NYSE:RACE) traded down $0.10 during mid-day trading on Thursday, hitting $111.70. 491,718 shares of the stock traded hands, compared to its average volume of 580,560. Ferrari has a twelve month low of $53.82 and a twelve month high of $121.14. The firm has a market capitalization of $21,485.96, a price-to-earnings ratio of 36.80, a PEG ratio of 2.77 and a beta of 1.72. The company has a quick ratio of 2.68, a current ratio of 3.26 and a debt-to-equity ratio of 2.77.

A number of hedge funds have recently made changes to their positions in RACE. FMR LLC grew its holdings in Ferrari by 4.6% during the 1st quarter. FMR LLC now owns 126,742 shares of the company’s stock worth $9,424,000 after acquiring an additional 5,620 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Ferrari by 48.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,798 shares of the company’s stock valued at $135,000 after buying an additional 586 shares during the period. Geode Capital Management LLC acquired a new position in shares of Ferrari in the 1st quarter valued at about $1,005,000. Dimensional Fund Advisors LP boosted its holdings in shares of Ferrari by 137.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,173 shares of the company’s stock valued at $608,000 after buying an additional 4,737 shares during the period. Finally, KCG Holdings Inc. acquired a new position in shares of Ferrari in the 1st quarter valued at about $356,000. 31.87% of the stock is owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This report was originally reported by BBNS and is owned by of BBNS. If you are accessing this report on another site, it was stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this report can be accessed at https://baseballnewssource.com/markets/ferrari-n-v-race-downgraded-to-buy-at-bidaskclub/1770941.html.

Ferrari 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.

Analyst Recommendations for Ferrari (NYSE:RACE)

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

 


Latest News

Tigers Trade Ian Kinsler to Angels for Pair of Minor Leaguers
Tigers Trade Ian Kinsler to Angels for Pair of Minor Leaguers
Manny Machado Could Change Positions or Uniforms
Manny Machado Could Change Positions or Uniforms
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Yankees and Marlins Continue Stanton Trade Talks
Yankees and Marlins Continue Stanton Trade Talks
Marlins Making Moves, Trade Dee Gordon to Seattle
Marlins Making Moves, Trade Dee Gordon to Seattle
Report: Astros Dallas Keuchel Pitched With Injured Foot
Report: Astros Dallas Keuchel Pitched With Injured Foot


Leave a Reply

 
© 2006-2017 BBNS.