Ferrari (NYSE:RACE) Raised to "Buy" at StockNews.com

Ferrari (NYSE:RACE - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a report issued on Wednesday.

Several other research firms have also commented on RACE. Barclays lowered Ferrari from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research report on Thursday, February 6th. They set a "hold" rating on the stock. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $507.14.

Ferrari Price Performance

Shares of RACE stock opened at $442.66 on Wednesday. Ferrari has a twelve month low of $399.27 and a twelve month high of $509.13. The stock has a market capitalization of $107.29 billion, a price-to-earnings ratio of 48.38, a P/E/G ratio of 4.43 and a beta of 0.94. The stock has a fifty day simple moving average of $452.75 and a two-hundred day simple moving average of $456.16. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

Hedge Funds Weigh In On Ferrari

Several institutional investors have recently added to or reduced their stakes in the stock. Sapient Capital LLC increased its position in Ferrari by 1.0% during the 4th quarter. Sapient Capital LLC now owns 67,322 shares of the company's stock worth $28,737,000 after purchasing an additional 653 shares during the period. Cerity Partners LLC boosted its stake in shares of Ferrari by 14.0% during the 3rd quarter. Cerity Partners LLC now owns 26,915 shares of the company's stock worth $12,653,000 after acquiring an additional 3,308 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Ferrari by 35.1% during the 4th quarter. Allworth Financial LP now owns 327 shares of the company's stock worth $141,000 after acquiring an additional 85 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Ferrari by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company's stock valued at $684,888,000 after buying an additional 38,356 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Ferrari by 156.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,400 shares of the company's stock valued at $2,731,000 after buying an additional 3,900 shares in the last quarter.

About Ferrari

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.

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