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

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.

Several other research analysts also recently commented on the stock. Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, UBS Group upped their price target on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $507.14.

Ferrari Price Performance

Shares of RACE traded down $4.43 during midday trading on Tuesday, reaching $459.77. The stock had a trading volume of 459,445 shares, compared to its average volume of 278,313. The company has a market capitalization of $111.44 billion, a price-to-earnings ratio of 50.25, a price-to-earnings-growth ratio of 4.43 and a beta of 0.95. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 12-month low of $399.27 and a 12-month high of $509.13. The company’s 50-day moving average is $451.04 and its 200 day moving average is $457.10.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. HBK Sorce Advisory LLC raised its holdings in Ferrari by 3.6% in the 4th quarter. HBK Sorce Advisory LLC now owns 626 shares of the company’s stock worth $266,000 after purchasing an additional 22 shares in the last quarter. Elite Wealth Management Inc. raised its stake in Ferrari by 1.0% in the third quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock worth $1,225,000 after buying an additional 25 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in Ferrari by 4.4% in the fourth quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock worth $251,000 after buying an additional 25 shares during the period. Garde Capital Inc. boosted its position in Ferrari by 5.0% during the 4th quarter. Garde Capital Inc. now owns 525 shares of the company’s stock valued at $223,000 after acquiring an additional 25 shares in the last quarter. Finally, Addison Advisors LLC grew its holdings in shares of Ferrari by 13.6% during the 3rd quarter. Addison Advisors LLC now owns 217 shares of the company’s stock worth $102,000 after acquiring an additional 26 shares during the period.

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.