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

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

Analyst Ratings Changes

Several brokerages have commented on RACE. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, UBS Group increased their price target on shares of Ferrari from $478.00 to $513.00 and gave the company 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. Based on data from MarketBeat, Ferrari has an average rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Trading Down 0.8 %

The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The firm has a market capitalization of $122.82 billion, a PE ratio of 55.07, a price-to-earnings-growth ratio of 4.43 and a beta of 0.95. The business’s 50-day moving average price is $444.58 and its 200-day moving average price is $454.68.

Hedge Funds Weigh In On Ferrari

Hedge funds have recently modified their holdings of the business. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Ferrari during the third quarter worth approximately $29,000. Hanson & Doremus Investment Management purchased a new position in Ferrari in the 4th quarter valued at $26,000. Planning Capital Management Corp purchased a new position in Ferrari in the 3rd quarter valued at $30,000. Ashton Thomas Securities LLC purchased a new position in Ferrari in the 3rd quarter valued at $33,000. Finally, Hobbs Group Advisors LLC purchased a new position in Ferrari in the 3rd quarter valued at $47,000.

Ferrari Company Profile

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.