Ferrari (NYSE:RACE) Sets New 1-Year High – What’s Next?

Ferrari (NYSE:RACE) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $508.15 and last traded at $508.07, with a volume of 215087 shares. The stock had previously closed at $500.84.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RACE. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, UBS Group increased their target price on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Stock Performance

The business has a fifty day simple moving average of $442.46 and a two-hundred day simple moving average of $453.75. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The company has a market cap of $123.84 billion, a P/E ratio of 55.53, a P/E/G ratio of 4.40 and a beta of 0.95.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new position in shares of Ferrari in the fourth quarter worth about $11,333,000. Sunbelt Securities Inc. raised its stake in Ferrari by 46.4% during the 4th quarter. Sunbelt Securities Inc. now owns 864 shares of the company’s stock valued at $369,000 after purchasing an additional 274 shares during the period. Vise Technologies Inc. raised its stake in Ferrari by 5.1% during the 4th quarter. Vise Technologies Inc. now owns 2,252 shares of the company’s stock valued at $957,000 after purchasing an additional 110 shares during the period. Novem Group bought a new stake in Ferrari during the 4th quarter valued at approximately $821,000. Finally, Castleark Management LLC raised its stake in Ferrari by 6.0% during the 4th quarter. Castleark Management LLC now owns 19,018 shares of the company’s stock valued at $8,080,000 after purchasing an additional 1,080 shares during the period.

About Ferrari

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.