Ferrari (NYSE:RACE) Upgraded at Citi from “Neutral” to “Buy”

Ferrari (NYSE:RACE) Upgraded at Citi from “Neutral” to “Buy”

Ferrari (NYSE:RACE) Upgraded at Citi from “Neutral” to “Buy”

$RACE

Ferrari (NYSE:RACE) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a report released last Thursday

Other analysts have also issued research reports about the company including me.

I have been Bullish since late July when RACE was 40/share.

Jefferies Group LLC began coverage on Ferrari in a research note on 13 March. They issued a “buy” rating with a 74.00 target.

Berenberg Bank restated a “buy” rating on shares of Ferrari in a research note on Monday, 28 November.

Morgan Stanley upped its price objective on Ferrari from 60.00 to 72.00 and gave the company an “overweight” rating in a research note on Wednesday, 8 February.

Zacks Investment Research bearish RACE since the IPO raised Ferrari from a “sell” rating to a “hold” rating in a research report on Tuesday, 20 December.

One analyst has rated the stock with a sell rating, 4 have given a hold rating and 5 have issued a buy rating to the stock. The stock a consensus price target at 60.53 and closed last Thursday at 70.65 off of its 29 March high at 74.99

 

Ferrari has a one year low of 38.71 and a one year high of 74.99.

The iconic Italian Supercar maker has a market cap of $13.35-B, a P/E Ratio of 31.38 and a beta of 1.79.

 

The company has a 50-Day MA price of 69.26 and a 200-Day MA price of 60.21

The data show that several institutional investors have recently bought and sold shares of the stock.

Raymond James Financial Services Advisors Inc. increased its position in Ferrari by 0.7% in Q-4.

Raymond James Financial Services Advisors Inc. now owns 10,299 shares of the company’s stock valued at $599,000 after buying an additional 75 shares during Q-1 of this year.

Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Ferrari by 6.3% in Q-4. Ladenburg now owns 2,149 shares of the company’s stock worth $125,000 after buying an additional 128 shares in Q-1.

Wetherby Asset Management Inc. increased its stake in shares of Ferrari by 3.0% in Q-4. Wetherby now owns 5,406 shares of the company’s stock worth $314,000 after buying an additional 157 shares in Q-1.

Advisor Group Inc. increased its stake in shares of Ferrari by 28.1% in Q-3. Advisor now owns 1,990 shares of the company’s stock worth $104,000 after buying an additional 436 shares in Q-1.

Aviva PLC increased its stake in shares of Ferrari by 0.4% in Q-4. Aviva now owns 119,970 shares of the company’s stock worth $6,987,000 after buying an additional 438 shares in Q-1.

30.45% of the stock is currently owned by institutional investors.

Ferrari NV is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars and luxury merchandise under the Ferrari brand. Its Supercar include 9 sports car models, including 7 sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A, as well as 3 GT cars, the FF, the GTC4 Lusso, and California T, plus Special Editions.

Ferrari is the most iconic and winningest Fromula One team in history, know as The Scuderia. 

Further, it classic and vintage models are the most expensive cars with prices in the tens of millions of dollars.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 70.63 13 April 2017 -1.03 71.47 71.75 69.59 489,500
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bullish (0.39) Neutral (0.14) Bullish (0.48) Very Bullish (0.54)

Have a terrific week

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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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