Ferrari N.V. (NYSE:RACE)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $101.14 and last traded at $101.19, with a volume of 462,340 shares changing hands. The stock had previously closed at $100.02.
RACE has been the topic of several research reports. UBS AG boosted their price target on Ferrari N.V. from $74.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, May 2nd. Zacks Investment Research lowered Ferrari N.V. from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. Kepler Capital Markets upgraded Ferrari N.V. to a “hold” rating in a research note on Friday, May 5th. Bank of America Corporation boosted their price target on Ferrari N.V. from $82.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, May 5th. Finally, Jefferies Group LLC set a $96.00 price target on Ferrari N.V. and gave the company a “buy” rating in a research note on Saturday, May 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $91.67.
The company has a market cap of $21.07 billion, a P/E ratio of 37.03 and a beta of 1.82. The firm’s 50 day moving average price is $101.02 and its 200-day moving average price is $82.09.
Several hedge funds and other institutional investors have recently made changes to their positions in RACE. FMR LLC boosted its position in shares of Ferrari N.V. by 4.6% in the first quarter. FMR LLC now owns 126,742 shares of the company’s stock valued at $9,424,000 after buying an additional 5,620 shares in the last quarter. KCG Holdings Inc. acquired a new position in shares of Ferrari N.V. during the first quarter valued at approximately $356,000. Bank of America Corp DE boosted its position in shares of Ferrari N.V. by 4.3% in the first quarter. Bank of America Corp DE now owns 896,521 shares of the company’s stock valued at $66,665,000 after buying an additional 36,852 shares in the last quarter. Opera Trading Capital acquired a new position in shares of Ferrari N.V. during the second quarter valued at approximately $172,000. Finally, Stifel Financial Corp boosted its position in shares of Ferrari N.V. by 133.4% in the first quarter. Stifel Financial Corp now owns 17,499 shares of the company’s stock valued at $1,298,000 after buying an additional 10,002 shares in the last quarter. 32.87% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION NOTICE: “Ferrari N.V. (NYSE:RACE) Reaches New 12-Month High at $101.14” was originally reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this article on another site, it was illegally copied and republished in violation of US and international copyright and trademark law. The correct version of this article can be viewed at https://www.com-unik.info/2017/08/19/ferrari-n-v-nyserace-hits-new-52-week-high-at-101-14-updated-updated-updated.html.
About Ferrari N.V.
Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
What are top analysts saying about Ferrari N.V.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Ferrari N.V. and related companies.