Ferrari (RACE) Receives Average Rating of “Hold” from Brokerages

Shares of Ferrari (NASDAQ:RACE) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the firm. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $63.67.

A number of research firms have weighed in on RACE. Jefferies Group LLC began coverage on shares of Ferrari in a research note on Monday, March 13th. They set a “buy” rating and a $74.00 price objective for the company. Zacks Investment Research lowered shares of Ferrari from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 10th. Morgan Stanley raised their price objective on shares of Ferrari from $60.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, February 8th. Finally, Berenberg Bank restated a “buy” rating on shares of Ferrari in a research note on Monday, November 28th.

Shares of Ferrari (NASDAQ:RACE) opened at 68.00 on Thursday. The company’s 50 day moving average is $65.38 and its 200-day moving average is $57.05. The stock has a market capitalization of $12.85 billion and a PE ratio of 30.56. Ferrari has a 52 week low of $38.71 and a 52 week high of $69.50.

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A number of hedge funds have recently added to or reduced their stakes in RACE. KCG Holdings Inc. bought a new stake in shares of Ferrari during the third quarter worth approximately $830,000. Quadrature Capital Ltd bought a new stake in shares of Ferrari during the third quarter worth approximately $356,000. Morningstar Investment Services LLC raised its stake in shares of Ferrari by 8.5% in the third quarter. Morningstar Investment Services LLC now owns 13,547 shares of the company’s stock worth $703,000 after buying an additional 1,060 shares in the last quarter. Advisor Group Inc. raised its stake in shares of Ferrari by 28.1% in the third quarter. Advisor Group Inc. now owns 1,990 shares of the company’s stock worth $104,000 after buying an additional 436 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of Ferrari during the third quarter worth approximately $2,162,000.

Ferrari Company Profile

5 Day Chart for NASDAQ:RACE

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