Ferrari (NYSE:RACE) Price Target Lowered to $460.00 at JPMorgan Chase & Co.

Ferrari (NYSE:RACE) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $525.00 to $460.00 in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 11.18% from the stock’s current price.

A number of other equities analysts also recently commented on RACE. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $497.86.

Ferrari Stock Down 4.7 %

Shares of Ferrari stock opened at $413.76 on Thursday. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13. 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 stock has a market cap of $100.29 billion, a price-to-earnings ratio of 45.22, a PEG ratio of 4.43 and a beta of 0.94. The firm’s 50-day moving average is $456.26 and its two-hundred day moving average is $452.94.

Hedge Funds Weigh In On Ferrari

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in Ferrari during the 4th quarter valued at approximately $697,226,000. Price T Rowe Associates Inc. MD lifted its position in Ferrari by 49.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company’s stock worth $763,125,000 after acquiring an additional 594,547 shares during the period. Barclays PLC grew its stake in Ferrari by 198.0% during the 4th quarter. Barclays PLC now owns 853,971 shares of the company’s stock valued at $362,802,000 after purchasing an additional 567,407 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Ferrari by 62.1% in the fourth quarter. Marshall Wace LLP now owns 1,358,467 shares of the company’s stock valued at $579,561,000 after purchasing an additional 520,337 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Ferrari by 380.7% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company’s stock worth $107,770,000 after purchasing an additional 192,694 shares during 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.