Trading Report: Today: Ferrari’s (RACE) “Buy” Rating Reaffirm at Berenberg Bank

Today: Ferrari’s (RACE) “Buy” Rating Reaffirm at Berenberg Bank

Ferrari (NASDAQ:RACE)‘s stock had its “buy” rating reiterated by analysts at Berenberg Bank in a research note issued on Monday.

A number of other equities research analysts also recently weighed in on RACE. Morgan Stanley reaffirmed an “overweight” rating and set a $56.00 price objective (up previously from $54.00) on shares of Ferrari in a research report on Wednesday, August 17th. Zacks Investment Research raised shares of Ferrari from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Saturday, August 20th. Societe Generale started coverage on shares of Ferrari in a research note on Thursday, October 13th. They set a “sell” rating and a $45.00 target price for the company. Citigroup Inc. reissued a “neutral” rating on shares of Ferrari in a research note on Friday, October 21st. Finally, Evercore ISI raised shares of Ferrari from a “sell” rating to a “hold” rating in a research note on Tuesday, November 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $51.67.

Ferrari (NASDAQ:RACE) opened at 54.78 on Monday. Ferrari has a one year low of $31.66 and a one year high of $54.99. The firm has a 50-day moving average of $53.11 and a 200-day moving average of $47.21. The stock has a market capitalization of $10.35 billion and a PE ratio of 28.59.

Ferrari (NASDAQ:RACE) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. The business had revenue of $783 million for the quarter, compared to the consensus estimate of $826.93 million. The firm’s revenue was up 8.3% on a year-over-year basis. On average, equities research analysts forecast that Ferrari will post $2.18 earnings per share for the current year.

Several hedge funds have recently modified their holdings of RACE. Advisor Group Inc. raised its stake in shares of Ferrari by 28.1% in the third quarter. Advisor Group Inc. now owns 1,990 shares of the company’s stock worth $104,000 after buying an additional 436 shares in the last quarter. Edmond DE Rothschild Monaco bought a new stake in shares of Ferrari during the third quarter worth $143,000. Nikko Asset Management Americas Inc. bought a new stake in shares of Ferrari during the third quarter worth $145,000. US Bancorp DE raised its stake in shares of Ferrari by 23.8% in the third quarter. US Bancorp DE now owns 2,867 shares of the company’s stock worth $149,000 after buying an additional 551 shares in the last quarter. Finally, Cetera Advisor Networks LLC bought a new stake in shares of Ferrari during the third quarter worth $264,000.

Related posts

Leave a Comment