Ferrari (NYSE:RACE) Hits New 1-Year High – Still a Buy?

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

Analysts Set New Price Targets

RACE has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a report on Thursday, February 6th. They issued a “hold” rating for the company. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. UBS Group raised their target price on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Stock Down 0.8 %

The firm has a market cap of $122.82 billion, a price-to-earnings ratio of 55.07, a P/E/G ratio of 4.43 and a beta of 0.95. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The firm has a 50 day moving average price of $444.58 and a 200-day moving average price of $454.68.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. HBK Sorce Advisory LLC raised its stake in shares of Ferrari by 3.6% during the 4th quarter. HBK Sorce Advisory LLC now owns 626 shares of the company’s stock worth $266,000 after buying an additional 22 shares during the last quarter. Elite Wealth Management Inc. increased its position in Ferrari by 1.0% during the 3rd quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock worth $1,225,000 after purchasing an additional 25 shares in the last quarter. Citizens Financial Group Inc. RI increased its position in Ferrari by 4.4% during the 4th quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock worth $251,000 after purchasing an additional 25 shares in the last quarter. Addison Advisors LLC increased its position in Ferrari by 13.6% during the 3rd quarter. Addison Advisors LLC now owns 217 shares of the company’s stock worth $102,000 after purchasing an additional 26 shares in the last quarter. Finally, PDS Planning Inc increased its position in Ferrari by 4.8% during the 4th quarter. PDS Planning Inc now owns 589 shares of the company’s stock worth $250,000 after purchasing an additional 27 shares in the last quarter.

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.