Stock analysts at Goldman Sachs Group, Inc. (The) initiated coverage on shares of Ferrari N.V. (NYSE:RACE) in a research report issued to clients and investors on Wednesday, The Fly reports. The firm set a “neutral” rating on the stock.

Several other research firms have also issued reports on RACE. Zacks Investment Research lowered Ferrari N.V. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Berenberg Bank reiterated a “buy” rating on shares of Ferrari N.V. in a research note on Monday, August 14th. Morgan Stanley lowered Ferrari N.V. from an “overweight” rating to an “underweight” rating and set a $100.00 target price on the stock. in a research note on Thursday, September 7th. UBS AG reiterated a “buy” rating and issued a $125.00 target price (up previously from $100.00) on shares of Ferrari N.V. in a research note on Thursday, August 3rd. Finally, Evercore ISI lifted their target price on Ferrari N.V. from $46.00 to $105.00 and gave the company an “in-line” rating in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Ferrari N.V. has an average rating of “Hold” and an average price target of $97.57.

Shares of Ferrari N.V. (NYSE:RACE) traded down 1.04% during trading on Wednesday, reaching $108.80. 566,280 shares of the company were exchanged. The firm’s 50 day moving average is $110.76 and its 200 day moving average is $87.97. Ferrari N.V. has a 1-year low of $46.39 and a 1-year high of $118.10. The firm has a market capitalization of $20.56 billion, a P/E ratio of 36.42 and a beta of 1.78.

Ferrari N.V. (NYSE:RACE) last posted its earnings results on Wednesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.13. Ferrari N.V. had a return on equity of 128.49% and a net margin of 14.43%. The company had revenue of $1.01 billion for the quarter. On average, equities analysts anticipate that Ferrari N.V. will post $3.21 EPS for the current fiscal year.

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Several hedge funds have recently modified their holdings of RACE. JPMorgan Chase & Co. grew its stake in shares of Ferrari N.V. by 102.8% during the first quarter. JPMorgan Chase & Co. now owns 1,830,812 shares of the company’s stock worth $136,139,000 after acquiring an additional 928,230 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Ferrari N.V. by 272.9% during the first quarter. AQR Capital Management LLC now owns 934,215 shares of the company’s stock worth $69,693,000 after acquiring an additional 683,686 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Ferrari N.V. by 124.2% during the second quarter. Bank of New York Mellon Corp now owns 811,847 shares of the company’s stock worth $69,836,000 after acquiring an additional 449,795 shares during the last quarter. Capital Growth Management LP purchased a new stake in shares of Ferrari N.V. during the second quarter worth about $37,849,000. Finally, Credit Suisse AG grew its stake in shares of Ferrari N.V. by 44.4% during the first quarter. Credit Suisse AG now owns 1,038,800 shares of the company’s stock worth $77,246,000 after acquiring an additional 319,185 shares during the last quarter. Institutional investors and hedge funds own 29.78% of the company’s stock.

Ferrari N.V. 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.

The Fly

Analyst Recommendations for Ferrari N.V. (NYSE:RACE)

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