Diversify Advisory Services LLC Invests $568,000 in Ferrari N.V. (NYSE:RACE)

Diversify Advisory Services LLC acquired a new position in shares of Ferrari N.V. (NYSE:RACE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,228 shares of the company's stock, valued at approximately $568,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Park Square Financial Group LLC acquired a new stake in shares of Ferrari during the 4th quarter valued at about $32,000. Alpine Bank Wealth Management bought a new stake in Ferrari during the first quarter worth about $33,000. Webster Bank N. A. bought a new stake in Ferrari during the first quarter worth about $43,000. Cornerstone Planning Group LLC grew its stake in Ferrari by 140.5% during the first quarter. Cornerstone Planning Group LLC now owns 101 shares of the company's stock worth $45,000 after buying an additional 59 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Ferrari during the first quarter worth about $48,000.

Ferrari Stock Down 0.0%

Ferrari stock opened at $505.99 on Friday. The company has a market cap of $122.64 billion, a P/E ratio of 53.54, a price-to-earnings-growth ratio of 5.54 and a beta of 1.09. Ferrari N.V. has a 1-year low of $391.54 and a 1-year high of $510.59. The company has a fifty day simple moving average of $483.60 and a 200 day simple moving average of $460.25. The company has a current ratio of 5.09, a quick ratio of 4.04 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. Ferrari had a net margin of 23.00% and a return on equity of 46.46%. The company 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 firm posted $1.95 EPS. The company's quarterly revenue was up 13.0% on a year-over-year basis. Research analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on RACE shares. JPMorgan Chase & Co. reduced their target price on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. 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 report on Wednesday, May 7th. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Wall Street Zen lowered shares of Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Ferrari presently has an average rating of "Moderate Buy" and an average price target of $526.25.

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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