Ferrari (NYSE:RACE): Analysts Rating the Stock a “Strong Buy”

Ferrari (NYSE:RACE): Analysts Rating the Stock a “Strong Buy”

Ferrari (NYSE:RACE): Analysts Rating the Stock a “Strong Buy

$RACE

Ferrari (NASDAQ:RACE) has earned a consensus broker rating score of 1.33 (Strong Buy) from the 3 brokers that cover the stock.

One analyst has rated the stock with a Buy recommendation and two have issued a Strong Buy recommendation on the company. Ferrari’s rating score has improved by 24% from 90 days ago as a result of a number of analysts’ ratings changes.

HeffX-LTN published a speculative buy rating on Ferrari earlier this year when the stock was trading at 40/share with a 60/share target at year end.

RACE notched 58.86 on 19 December. The shares finished Thursday at 57.74.

Some brokers have set a 1 year consensus price target of 56.33 for the company and are forecasting that the company will post EPS at 0.54 for the current Quarter.

Zacks has also assigned Ferrari an industry rank of 95 out of 265 based on the ratings given to its competitors and posted a Hold rating, up from a Sell.

RACE has been the subject of several industry research reports.

Societe Generale initiated coverage on shares of Ferrari in a report Thursday, 13 October. They set a “Sell” rating and a 45.00 price objective for the company.

Citigroup Inc. restated a “Neutral” rating on shares of Ferrari in a research report Friday, 21 October.

Morgan Stanley restated an “Overweight” rating and set a 56 target price  on shares of Ferrari in a research report on Wednesday, 17 August.

Ferrari has a 52-week low of 31.66 and a 52-week high of 58.86. The stock’s 50-Day MA is 51.66 and its 200-Day MA is 46.15. The company has a market capitalization of 9.54-B, and a P/E Ratio of 27.09.

A number of hedge funds have recently made changes to their positions in RACE.

Nikko Asset Management Americas Inc. purchased a new position in Ferrari during Q-3 worth $145,000.

Stifel Financial Corp purchased a new position in Ferrari during Q-2 worth $271,000.

AJO LP purchased a new position in Ferrari during Q-2 worth $286,000.

Raymond James & Associates raised its position in Ferrari by 6.9% in Q-2. Raymond James & Associates now owns 7,423/shares of the company’s stock worth $302,000 after buying an additional 482/shares during Q-3.

Carroll Financial Associates Inc. raised its position in Ferrari by 0.5% in Q-3. Carroll Financial Associates Inc. now owns 7,714/shares of the company’s stock worth $400,000 after buying an additional 35/shares during Q-3.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 57.74 23 December 2016 -0.29 58.52 58.6 57.4 337,600
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bullish (0.25) Bullish (0.32) Bullish (0.27) Neutral (0.17)

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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