Ferrari NV (RACE) Earns Sell Rating from Analysts at Societe Generale
Analysts at Societe Generale initiated coverage on shares of Ferrari NV (NYSE:RACE) in a report released on Thursday, StockTargetPrices.com reports. The brokerage set a “sell” rating and a $45.00 price target on the stock. Societe Generale’s target price would indicate a potential downside of 15.90% from the company’s current price.
Separately, Morgan Stanley upped their price target on Ferrari NV from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, August 17th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $49.12.
Shares of Ferrari NV (NYSE:RACE) traded down 1.85% during trading on Thursday, hitting $52.52. 768,705 shares of the stock were exchanged. The firm has a 50 day moving average of $49.93 and a 200-day moving average of $44.94. The company has a market cap of $9.92 billion and a price-to-earnings ratio of 27.56. Ferrari NV has a 12-month low of $31.66 and a 12-month high of $60.97.
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Institutional investors have recently added to or reduced their stakes in the stock. Edmond DE Rothschild Italia SGR SPA purchased a new stake in Ferrari NV during the first quarter valued at about $717,000. Edmond DE Rothschild Holding S.A. raised its stake in Ferrari NV by 583.4% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 25,484 shares of the company’s stock valued at $1,060,000 after buying an additional 21,755 shares in the last quarter. AXA purchased a new stake in Ferrari NV during the first quarter valued at about $1,125,000. Prudential PLC purchased a new stake in Ferrari NV during the first quarter valued at about $2,022,000. Finally, Aviva PLC purchased a new stake in Ferrari NV during the first quarter valued at about $3,745,000. Institutional investors own 26.83% of the company’s stock.
Ferrari NV Company Profile
Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
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