Stock analysts at Societe Generale began coverage on shares of Ferrari NV (NYSE:RACE) in a research note issued to investors on Thursday. The firm set a “sell” rating and a $45.00 price target on the stock. Societe Generale’s target price suggests a potential downside of 14.64% from the stock’s previous close.
Separately, Morgan Stanley boosted their target price on shares of Ferrari NV from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, August 17th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Ferrari NV currently has a consensus rating of “Hold” and an average target price of $49.12.
Ferrari NV (NYSE:RACE) opened at 52.72 on Thursday. The firm’s 50 day moving average is $50.17 and its 200-day moving average is $45.07. Ferrari NV has a 52 week low of $31.66 and a 52 week high of $60.97. The company has a market cap of $9.96 billion and a P/E ratio of 27.66.
Large investors have recently added to or reduced their stakes in the stock. Edmond DE Rothschild Italia SGR SPA bought a new stake in Ferrari NV during the first quarter valued at about $717,000. Edmond DE Rothschild Holding S.A. boosted 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 during the period. AXA bought a new stake in Ferrari NV during the first quarter valued at about $1,125,000. Prudential PLC bought a new stake in Ferrari NV during the first quarter valued at about $2,022,000. Finally, Aviva PLC bought a new stake in Ferrari NV during the first quarter valued at about $3,745,000. 26.83% of the stock is owned by institutional investors.
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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