Ferrari (NYSE:RACE) Downgraded to “Hold” Rating by StockNews.com

Ferrari (NYSE:RACE) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Other equities research analysts have also recently issued reports about the stock. UBS Group increased their price objective on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating for the company. Finally, Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ferrari has an average rating of “Hold” and a consensus price target of $507.14.

Ferrari Trading Down 1.0 %

Shares of Ferrari stock traded down $4.43 during midday trading on Tuesday, reaching $459.77. The company had a trading volume of 459,445 shares, compared to its average volume of 278,313. The firm has a market cap of $111.44 billion, a PE ratio of 50.25, a P/E/G ratio of 4.43 and a beta of 0.95. The stock has a fifty day moving average price of $451.04 and a 200 day moving average price of $457.10. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. Ferrari has a fifty-two week low of $399.27 and a fifty-two week high of $509.13.

Institutional Trading of Ferrari

Several institutional investors and hedge funds have recently bought and sold shares of RACE. Hanson & Doremus Investment Management purchased a new stake in shares of Ferrari in the fourth quarter worth $26,000. Planning Capital Management Corp bought a new position in Ferrari in the 3rd quarter worth about $30,000. Park Square Financial Group LLC purchased a new stake in shares of Ferrari in the 4th quarter valued at about $32,000. Ashton Thomas Securities LLC bought a new stake in shares of Ferrari during the 3rd quarter valued at about $33,000. Finally, Armstrong Advisory Group Inc. grew its holdings in shares of Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after purchasing an additional 50 shares in the last quarter.

About Ferrari

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.