Trade Report: The Ferrari (RACE) Receives New Coverage from Analysts at Societe Generale

The Ferrari (RACE) Receives New Coverage from Analysts at Societe Generale

Societe Generale started coverage on shares of Ferrari (NASDAQ:RACE) in a research note issued to investors on Thursday. The firm issued a sell rating and a $45.00 price target on the stock.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Ferrari from a sell rating to a hold rating in a research report on Wednesday, July 13th. Morgan Stanley reiterated an overweight rating and issued a $56.00 target price (up previously from $54.00) on shares of Ferrari in a research report on Wednesday, August 17th.

Ferrari (NASDAQ:RACE) traded up 0.55% during midday trading on Thursday, hitting $52.80. 509,628 shares of the company were exchanged. The firm has a market capitalization of $9.98 billion and a PE ratio of 27.70. The stock has a 50 day moving average of $50.04 and a 200 day moving average of $44.99. Ferrari has a 1-year low of $31.66 and a 1-year high of $60.97.

Ferrari (NASDAQ:RACE) last issued its earnings results on Tuesday, August 2nd. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. On average, equities analysts predict that Ferrari will post $2.14 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the company. Stifel Financial Corp purchased a new stake in shares of Ferrari during the second quarter worth about $271,000. AJO LP purchased a new stake in shares of Ferrari during the second quarter worth about $286,000. Raymond James & Associates raised its stake in shares of Ferrari by 6.9% in the second quarter. Raymond James & Associates now owns 7,423 shares of the company’s stock worth $302,000 after buying an additional 482 shares during the period. Carroll Financial Associates Inc. raised its stake in shares of Ferrari by 0.5% in the third quarter. Carroll Financial Associates Inc. now owns 7,714 shares of the company’s stock worth $400,000 after buying an additional 35 shares during the period. Finally, Scotia Capital Inc. purchased a new stake in shares of Ferrari during the second quarter worth about $360,000.

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