Ferrari (NYSE:RACE) Stock Rating Upgraded by Barclays

Ferrari (NYSE:RACE) was upgraded by analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports.

A number of other equities research analysts have also commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating for the company. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $497.86.

Ferrari Stock Performance

Shares of RACE opened at $429.93 on Friday. The firm has a market capitalization of $104.21 billion, a P/E ratio of 46.99, a P/E/G ratio of 4.43 and a beta of 0.94. Ferrari has a 52 week low of $399.27 and a 52 week high of $509.13. The stock has a 50 day moving average price of $456.00 and a two-hundred day moving average price of $452.36. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57.

Institutional Investors Weigh In On Ferrari

Institutional investors have recently added to or reduced their stakes in the business. HBK Sorce Advisory LLC lifted its stake in shares of Ferrari by 3.6% during the 4th quarter. HBK Sorce Advisory LLC now owns 626 shares of the company’s stock valued at $266,000 after buying an additional 22 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of Ferrari by 4.4% during the fourth quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock worth $251,000 after acquiring an additional 25 shares in the last quarter. Garde Capital Inc. boosted its holdings in shares of 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 during the period. PDS Planning Inc grew its position in shares of Ferrari by 4.8% in the fourth quarter. PDS Planning Inc now owns 589 shares of the company’s stock valued at $250,000 after purchasing an additional 27 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Ferrari by 10.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock valued at $140,000 after purchasing an additional 30 shares during the period.

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.