Bennett Selby Investments LP Increases Stake in Ferrari (NYSE:RACE)

Bennett Selby Investments LP lifted its stake in shares of Ferrari (NYSE:RACE - Free Report) by 62.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,917 shares of the company's stock after acquiring an additional 736 shares during the period. Bennett Selby Investments LP's holdings in Ferrari were worth $820,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. SOA Wealth Advisors LLC. purchased a new position in shares of Ferrari during the 1st quarter worth about $4,182,000. Miracle Mile Advisors LLC lifted its holdings in shares of Ferrari by 0.7% during the 1st quarter. Miracle Mile Advisors LLC now owns 9,069 shares of the company's stock worth $3,880,000 after acquiring an additional 64 shares during the period. Sivia Capital Partners LLC raised its holdings in Ferrari by 9.2% in the first quarter. Sivia Capital Partners LLC now owns 545 shares of the company's stock valued at $233,000 after buying an additional 46 shares during the period. First Affirmative Financial Network raised its holdings in Ferrari by 14.8% in the first quarter. First Affirmative Financial Network now owns 798 shares of the company's stock valued at $341,000 after buying an additional 103 shares during the period. Finally, SeaCrest Wealth Management LLC raised its holdings in Ferrari by 4.6% in the first quarter. SeaCrest Wealth Management LLC now owns 3,224 shares of the company's stock valued at $1,379,000 after buying an additional 141 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RACE shares. Wall Street Zen downgraded Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. UBS Group increased their price objective on shares of Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $526.25.

Ferrari Stock Up 0.5%

RACE stock opened at $482.71 on Friday. Ferrari has a twelve month low of $391.54 and a twelve month high of $509.13. 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 company has a market capitalization of $117.00 billion, a P/E ratio of 52.75, a PEG ratio of 4.43 and a beta of 1.10. The firm has a 50 day simple moving average of $460.56 and a 200-day simple moving average of $450.78.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, topping analysts' consensus estimates of $2.36 by $0.06. Ferrari had a net margin of 22.81% and a return on equity of 46.69%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the company earned $1.95 earnings per share. The business's quarterly revenue was up 13.0% compared to the same quarter last year. On average, equities research analysts predict that Ferrari will post 9.22 earnings per share 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.

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