Ferrari (RACE) Hits New 52-Week High and Low at $149.08

Ferrari NV (NYSE:RACE) reached a new 52-week high and low during trading on Thursday . The company traded as low as $149.08 and last traded at $148.62, with a volume of 14507 shares. The stock had previously closed at $146.67.

RACE has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Ferrari from a “sell” rating to a “buy” rating and set a $154.00 target price on the stock in a research note on Tuesday, May 8th. ValuEngine upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. UBS Group reiterated a “buy” rating and set a $160.00 target price (up from $129.00) on shares of Ferrari in a research note on Monday, February 26th. Goldman Sachs Group initiated coverage on Ferrari in a research note on Friday, May 25th. They set a “neutral” rating on the stock. Finally, Credit Suisse Group lifted their target price on Ferrari from $150.00 to $156.00 and gave the stock an “outperform” rating in a research note on Friday, May 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $130.75.

The company has a market capitalization of $26.28 billion, a P/E ratio of 46.66, a price-to-earnings-growth ratio of 2.18 and a beta of 1.40. The company has a debt-to-equity ratio of 2.03, a current ratio of 3.17 and a quick ratio of 2.56.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Thursday, May 3rd. The company reported $0.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.10). Ferrari had a net margin of 16.44% and a return on equity of 79.32%. The firm had revenue of $831.00 million during the quarter, compared to the consensus estimate of $835.47 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. equities analysts expect that Ferrari NV will post 3.68 EPS for the current year.

A number of institutional investors have recently made changes to their positions in the stock. Financial Gravity Wealth Inc. bought a new stake in Ferrari in the 1st quarter valued at about $131,000. CIBC World Markets Inc. raised its stake in Ferrari by 539.8% in the 1st quarter. CIBC World Markets Inc. now owns 20,685 shares of the company’s stock valued at $2,493,000 after acquiring an additional 17,452 shares during the period. Assetmark Inc. increased its position in shares of Ferrari by 43.4% during the first quarter. Assetmark Inc. now owns 81,285 shares of the company’s stock valued at $9,796,000 after buying an additional 24,597 shares during the period. Amundi Pioneer Asset Management Inc. increased its position in shares of Ferrari by 66.1% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 1,153,572 shares of the company’s stock valued at $139,028,000 after buying an additional 459,151 shares during the period. Finally, Jane Street Group LLC increased its position in shares of Ferrari by 1,998.3% during the first quarter. Jane Street Group LLC now owns 341,462 shares of the company’s stock valued at $41,153,000 after buying an additional 325,189 shares during the period. Institutional investors and hedge funds own 32.19% of the company’s stock.

Ferrari Company Profile

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports cars, GT cars, special series cars, limited edition supercars, limited editions series, and one-off cars; and open air roadsters and two-seater mid-rear-engined roadsters.

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