Concurrent Investment Advisors LLC Invests $501,000 in Ferrari N.V. (NYSE:RACE)

Concurrent Investment Advisors LLC acquired a new position in Ferrari N.V. (NYSE:RACE - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 1,172 shares of the company's stock, valued at approximately $501,000.

Other large investors have also recently made changes to their positions in the company. Park Square Financial Group LLC bought a new stake in shares of Ferrari during the fourth quarter valued at approximately $32,000. Alpine Bank Wealth Management bought a new stake in shares of Ferrari during the first quarter valued at approximately $33,000. Webster Bank N. A. bought a new stake in shares of Ferrari during the first quarter valued at approximately $43,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Ferrari during the first quarter valued at approximately $48,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ferrari by 60.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 148 shares of the company's stock valued at $63,000 after purchasing an additional 56 shares in the last quarter.

Analyst Ratings Changes

RACE has been the topic of several analyst reports. Wall Street Zen downgraded Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. JPMorgan Chase & Co. dropped their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. UBS Group boosted their target price on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $526.25.

Ferrari Stock Down 0.6%

Shares of RACE stock traded down $2.97 during mid-day trading on Monday, hitting $487.69. The company's stock had a trading volume of 220,237 shares, compared to its average volume of 406,733. Ferrari N.V. has a 52-week low of $391.54 and a 52-week high of $509.13. The business has a 50-day moving average price of $481.54 and a 200 day moving average price of $457.99. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.04 and a current ratio of 5.09. The stock has a market cap of $118.21 billion, a price-to-earnings ratio of 51.61, a PEG ratio of 5.58 and a beta of 1.09.

Ferrari (NYSE:RACE - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.82 billion. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. Ferrari's revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.95 earnings per share. Research analysts predict that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Ferrari 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.