Cerity Partners LLC Has $12.93 Million Stock Position in Ferrari N.V. (NYSE:RACE)

Cerity Partners LLC grew its position in Ferrari N.V. (NYSE:RACE - Free Report) by 14.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,218 shares of the company's stock after acquiring an additional 3,740 shares during the quarter. Cerity Partners LLC's holdings in Ferrari were worth $12,929,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Banque Pictet & Cie SA lifted its position in Ferrari by 234.0% in the first quarter. Banque Pictet & Cie SA now owns 7,515 shares of the company's stock worth $3,184,000 after purchasing an additional 5,265 shares during the period. Axxcess Wealth Management LLC raised its stake in shares of Ferrari by 26.8% in the 1st quarter. Axxcess Wealth Management LLC now owns 733 shares of the company's stock valued at $314,000 after buying an additional 155 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Ferrari by 3.9% during the 1st quarter. Rehmann Capital Advisory Group now owns 697 shares of the company's stock worth $299,000 after acquiring an additional 26 shares during the period. Cornerstone Planning Group LLC boosted its position in shares of Ferrari by 140.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 101 shares of the company's stock valued at $45,000 after acquiring an additional 59 shares in the last quarter. Finally, Principal Securities Inc. increased its stake in Ferrari by 11.5% in the first quarter. Principal Securities Inc. now owns 1,020 shares of the company's stock valued at $433,000 after acquiring an additional 105 shares during the period.

Ferrari Price Performance

RACE traded down $2.97 during trading on Monday, hitting $487.69. The company's stock had a trading volume of 220,300 shares, compared to its average volume of 407,173. The company has a quick ratio of 4.04, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $118.21 billion, a price-to-earnings ratio of 51.61, a price-to-earnings-growth ratio of 5.58 and a beta of 1.09. The firm's 50 day moving average price is $481.54 and its two-hundred day moving average price is $457.99. Ferrari N.V. has a 12 month low of $391.54 and a 12 month high of $509.13.

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

Analyst Upgrades and Downgrades

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

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.