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

Several other brokerages also recently issued reports on RACE. Evercore ISI raised shares of Ferrari from a “sell” rating to a “hold” rating in a research report on Tuesday, November 8th. Societe Generale initiated coverage on shares of Ferrari in a report on Thursday, October 13th. They set a “sell” rating and a $45.00 target price for the company. Citigroup Inc. restated a “neutral” rating on shares of Ferrari in a report on Friday, October 21st. Zacks Investment Research cut shares of Ferrari from a “buy” rating to a “sell” rating in a report on Wednesday, October 19th. Finally, Morgan Stanley restated an “overweight” rating and set a $56.00 target price (up previously from $54.00) on shares of Ferrari in a report on Wednesday, August 17th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $51.67.

Analyst Recommendations for Ferrari (NASDAQ:RACE)

Ferrari (NASDAQ:RACE) opened at 54.74 on Monday. Ferrari has a one year low of $31.66 and a one year high of $54.99. The company has a market cap of $10.34 billion and a P/E ratio of 28.57. The company has a 50-day moving average of $53.11 and a 200 day moving average of $47.34.

Ferrari (NASDAQ:RACE) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.06. The company had revenue of $783 million for the quarter, compared to the consensus estimate of $826.93 million. Ferrari’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities research analysts predict that Ferrari will post $2.18 EPS for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Ferrari by 16.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 16,053,532 shares of the company’s stock valued at $832,697,000 after buying an additional 2,325,508 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of Ferrari by 6.3% in the second quarter. Baillie Gifford & Co. now owns 13,077,533 shares of the company’s stock valued at $532,493,000 after buying an additional 772,620 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Ferrari by 2.5% in the second quarter. Vanguard Group Inc. now owns 2,879,250 shares of the company’s stock valued at $117,848,000 after buying an additional 70,585 shares during the last quarter. Samlyn Capital LLC boosted its position in shares of Ferrari by 5.4% in the third quarter. Samlyn Capital LLC now owns 1,677,444 shares of the company’s stock valued at $87,009,000 after buying an additional 85,700 shares during the last quarter. Finally, Permian Investment Partners LP boosted its position in shares of Ferrari by 0.5% in the third quarter. Permian Investment Partners LP now owns 1,226,737 shares of the company’s stock valued at $63,643,000 after buying an additional 6,000 shares during the last quarter.

5 Day Chart for NASDAQ:RACE

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