Ferrari NV (RACE) Research Coverage Started at Societe Generale
Equities research analysts at Societe Generale initiated coverage on shares of Ferrari NV (NYSE:RACE) in a report released on Thursday, StockTargetPrices.com reports. The firm set a “sell” rating and a $45.00 price target on the stock. Societe Generale’s price objective indicates a potential downside of 14.30% from the stock’s current price.
Separately, Morgan Stanley increased their target price on shares of Ferrari NV from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 17th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $49.12.
Ferrari NV (NYSE:RACE) traded down 1.87% during midday trading on Thursday, reaching $52.51. The company’s stock had a trading volume of 1,170,064 shares. Ferrari NV has a 52 week low of $31.66 and a 52 week high of $60.97. The firm has a market capitalization of $9.92 billion and a P/E ratio of 27.55. The company’s 50-day moving average is $49.93 and its 200 day moving average is $44.94.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/13/ferrari-nv-race-research-coverage-started-at-societe-generale.html
Hedge funds and other institutional investors have recently modified their holdings of the stock. Edmond DE Rothschild Italia SGR SPA bought a new position in shares of Ferrari NV during the first quarter worth about $717,000. Edmond DE Rothschild Holding S.A. boosted its position in shares of 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 worth $1,060,000 after buying an additional 21,755 shares during the period. AXA bought a new position in shares of Ferrari NV during the first quarter worth about $1,125,000. Prudential PLC bought a new position in shares of Ferrari NV during the first quarter worth about $2,022,000. Finally, Aviva PLC bought a new position in shares of Ferrari NV during the first quarter worth about $3,745,000. 26.83% of the stock is owned by institutional investors.
About Ferrari NV
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.
Receive News & Ratings for Ferrari NV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferrari NV and related companies with MarketBeat.com's FREE daily email newsletter.