Ferrari (NYSE:RACE) Raised to Hold at Kepler Capital Markets

Ferrari (NYSE:RACEGet Rating) was upgraded by analysts at Kepler Capital Markets from a “reduce” rating to a “hold” rating in a research note issued to investors on Wednesday, Stock Target Advisor reports.

RACE has been the topic of several other research reports. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. Redburn Partners upgraded Ferrari from a “neutral” rating to a “buy” rating in a report on Friday, March 11th. UBS Group upped their price target on Ferrari from $260.00 to $263.00 and gave the stock a “buy” rating in a report on Monday, April 4th. BNP Paribas upgraded Ferrari from a “neutral” rating to an “outperform” rating and set a $255.00 price target on the stock in a report on Tuesday, April 12th. Finally, Morgan Stanley cut their price target on Ferrari from $350.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, May 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $241.09.

NYSE:RACE traded up $3.13 on Wednesday, reaching $194.29. The company’s stock had a trading volume of 2,689 shares, compared to its average volume of 511,259. The company has a quick ratio of 3.24, a current ratio of 3.82 and a debt-to-equity ratio of 1.14. The firm has a market cap of $35.90 billion, a price-to-earnings ratio of 35.78, a price-to-earnings-growth ratio of 3.50 and a beta of 0.94. Ferrari has a 12-month low of $178.87 and a 12-month high of $278.78. The stock has a 50 day moving average price of $205.72 and a 200 day moving average price of $224.82.

A number of institutional investors have recently bought and sold shares of RACE. EverSource Wealth Advisors LLC acquired a new stake in Ferrari during the 4th quarter worth approximately $25,000. Concord Wealth Partners acquired a new stake in Ferrari during the 4th quarter worth approximately $26,000. Masso Torrence Wealth Management Inc. acquired a new stake in Ferrari during the 4th quarter worth approximately $26,000. Patriot Financial Group Insurance Agency LLC lifted its position in Ferrari by 384.6% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 126 shares of the company’s stock worth $33,000 after acquiring an additional 100 shares during the period. Finally, Glassman Wealth Services acquired a new stake in Ferrari during the 1st quarter worth approximately $34,000. 38.36% of the stock is owned by institutional investors.

About Ferrari (Get Rating)

Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hyper cars; one-off and track cars; and Icona cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

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