Barclays Upgrades Ferrari (NYSE:RACE) to "Overweight"

Ferrari (NYSE:RACE - Get Free Report) was upgraded by equities researchers at Barclays from an "equal weight" rating to an "overweight" rating in a research note issued on Friday, MarketBeat reports.

Other equities research analysts have also recently issued reports about the company. StockNews.com upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. dropped their price objective on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a report on Thursday, February 6th. They set a "hold" rating for the company. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $497.86.

Ferrari Price Performance

Ferrari stock traded down $4.16 during mid-day trading on Friday, hitting $425.55. 230,276 shares of the company traded hands, compared to its average volume of 304,874. The stock has a fifty day moving average price of $456.00 and a 200-day moving average price of $452.20. The stock has a market cap of $103.14 billion, a price-to-earnings ratio of 46.44, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. Ferrari has a one year low of $399.27 and a one year high of $509.13. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57.

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Institutional Investors Weigh In On Ferrari

Several hedge funds have recently bought and sold shares of RACE. HBK Sorce Advisory LLC increased its stake in shares of Ferrari by 3.6% during the fourth quarter. HBK Sorce Advisory LLC now owns 626 shares of the company's stock valued at $266,000 after purchasing an additional 22 shares in the last quarter. Citizens Financial Group Inc. RI raised its stake in Ferrari by 4.4% during the fourth quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company's stock valued at $251,000 after buying an additional 25 shares during the last quarter. Garde Capital Inc. boosted its holdings in Ferrari by 5.0% in the fourth quarter. Garde Capital Inc. now owns 525 shares of the company's stock worth $223,000 after acquiring an additional 25 shares in the last quarter. PDS Planning Inc grew its stake in shares of Ferrari by 4.8% in the fourth quarter. PDS Planning Inc now owns 589 shares of the company's stock worth $250,000 after acquiring an additional 27 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Ferrari by 10.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company's stock valued at $140,000 after acquiring an additional 30 shares in the last quarter.

Ferrari Company Profile

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.