Ferrari N.V. (RACE) Sets New 52-Week High at $109.03

Shares of Ferrari N.V. (NYSE:RACE) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $109.03 and last traded at $108.81, with a volume of 1,379,109 shares trading hands. The stock had previously closed at $105.19.

Several analysts have issued reports on the company. Jefferies Group LLC set a $96.00 target price on Ferrari N.V. and gave the company a “buy” rating in a research note on Saturday, May 6th. UBS AG boosted their price objective 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. Berenberg Bank reiterated a “buy” rating on shares of Ferrari N.V. in a research note on Monday, August 14th. Bank of America Corporation boosted their price objective on Ferrari N.V. from $82.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Finally, Kepler Capital Markets upgraded Ferrari N.V. to a “hold” rating in a research note on Friday, May 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. 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 37.19 and a beta of 1.82. The stock’s 50 day moving average price is $101.02 and its 200-day moving average price is $82.09.

Ferrari N.V. (NYSE:RACE) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. The firm had revenue of $1.01 billion during the quarter. Ferrari N.V. had a return on equity of 128.49% and a net margin of 14.43%. Equities research analysts anticipate that Ferrari N.V. will post $3.07 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in RACE. Victory Capital Management Inc. purchased a new stake in shares of Ferrari N.V. during the first quarter worth about $127,000. Aviance Capital Management LLC purchased a new stake in shares of Ferrari N.V. during the second quarter worth about $130,000. PNC Financial Services Group Inc. raised its stake in shares of Ferrari N.V. by 48.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,798 shares of the company’s stock worth $135,000 after buying an additional 586 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Ferrari N.V. by 1.2% in the second quarter. Quadrant Capital Group LLC now owns 1,976 shares of the company’s stock worth $162,000 after buying an additional 24 shares during the last quarter. Finally, Opera Trading Capital purchased a new stake in shares of Ferrari N.V. during the second quarter worth about $172,000. Hedge funds and other institutional investors own 32.87% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece of content was first posted by [[site]] and is the property of of [[site]]. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of international copyright laws. The original version of this piece of content can be accessed at [[permalink]].

Ferrari N.V. Company Profile

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.