Ferrari NV (NYSE:RACE) shares hit a new 52-week high during trading on Thursday . The company traded as high as $155.54 and last traded at $154.63, with a volume of 318200 shares changing hands. The stock had previously closed at $154.72.
RACE has been the subject of a number of analyst reports. Credit Suisse Group increased their price target on shares of Ferrari from $148.00 to $158.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Morgan Stanley raised shares of Ferrari from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $140.00 to $160.00 in a report on Thursday, May 9th. ValuEngine downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. Zacks Investment Research downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, Evercore ISI raised shares of Ferrari from an “in-line” rating to an “outperform” rating in a research note on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Ferrari has an average rating of “Hold” and a consensus price target of $141.56.
The company has a debt-to-equity ratio of 1.39, a quick ratio of 3.67 and a current ratio of 4.27. The company has a market capitalization of $29.30 billion, a PE ratio of 38.47, a PEG ratio of 2.29 and a beta of 1.31.
Hedge funds and other institutional investors have recently made changes to their positions in the business. SkyTop Capital Management LLC lifted its stake in Ferrari by 5.3% in the fourth quarter. SkyTop Capital Management LLC now owns 10,000 shares of the company’s stock worth $994,000 after purchasing an additional 500 shares during the last quarter. Virtu Financial LLC increased its position in shares of Ferrari by 151.0% during the first quarter. Virtu Financial LLC now owns 5,353 shares of the company’s stock worth $716,000 after acquiring an additional 3,220 shares during the period. Henry James International Management Inc. increased its position in shares of Ferrari by 51.4% during the first quarter. Henry James International Management Inc. now owns 53,963 shares of the company’s stock worth $7,220,000 after acquiring an additional 18,330 shares during the period. Zweig DiMenna Associates LLC purchased a new position in shares of Ferrari during the first quarter worth approximately $5,018,000. Finally, Baskin Financial Services Inc. increased its position in shares of Ferrari by 6.4% during the first quarter. Baskin Financial Services Inc. now owns 90,674 shares of the company’s stock worth $12,132,000 after acquiring an additional 5,491 shares during the period. 35.99% of the stock is owned by institutional investors and hedge funds.
About Ferrari (NYSE:RACE)
Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.
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