Ferrari (NYSE:RACE) had its price target lifted by analysts at Credit Suisse Group from $148.00 to $158.00 in a research note issued to investors on Wednesday, May 8th, The Fly reports. The brokerage presently has an “outperform” rating on the stock. Credit Suisse Group’s target price would suggest a potential upside of 10.47% from the company’s previous close.
RACE has been the subject of several other research reports. ValuEngine cut shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. HSBC cut shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Zacks Investment Research cut shares of Ferrari from a “hold” rating to a “sell” rating in a research note on Friday, January 25th. Finally, Sanford C. Bernstein upgraded shares of Ferrari from an “underperform” rating to a “market perform” rating and set a $112.29 target price for the company in a research note on Tuesday, January 15th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $141.26.
Shares of NYSE:RACE opened at $143.02 on Wednesday. The company has a current ratio of 4.27, a quick ratio of 3.67 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $27.03 billion, a price-to-earnings ratio of 35.58, a PEG ratio of 2.17 and a beta of 1.53. Ferrari has a 52 week low of $93.85 and a 52 week high of $149.85.
Several hedge funds and other institutional investors have recently made changes to their positions in RACE. Norges Bank purchased a new position in Ferrari during the 4th quarter valued at about $186,544,000. Comgest Global Investors S.A.S. purchased a new position in Ferrari during the 1st quarter valued at about $135,097,000. Canada Pension Plan Investment Board increased its holdings in Ferrari by 23.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 3,402,871 shares of the company’s stock valued at $337,545,000 after acquiring an additional 647,066 shares in the last quarter. BlackRock Inc. increased its holdings in Ferrari by 4,234.9% during the 1st quarter. BlackRock Inc. now owns 567,963 shares of the company’s stock valued at $75,994,000 after acquiring an additional 554,861 shares in the last quarter. Finally, FMR LLC increased its holdings in Ferrari by 76.5% during the 4th quarter. FMR LLC now owns 1,028,071 shares of the company’s stock valued at $102,223,000 after acquiring an additional 445,583 shares in the last quarter. Hedge funds and other institutional investors own 36.00% of the company’s stock.
Ferrari Company Profile
Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.
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