Ferrari N.V. (NYSE:RACE) Shares Purchased by PFG Investments LLC

PFG Investments LLC boosted its stake in Ferrari N.V. (NYSE:RACE - Free Report) by 15.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,491 shares of the company's stock after purchasing an additional 587 shares during the period. PFG Investments LLC's holdings in Ferrari were worth $1,921,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new stake in Ferrari in the 4th quarter valued at approximately $32,000. Webster Bank N. A. purchased a new position in Ferrari in the 1st quarter valued at approximately $43,000. Kestra Investment Management LLC purchased a new position in Ferrari in the 4th quarter valued at approximately $45,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Ferrari in the 1st quarter valued at approximately $48,000. Finally, Plato Investment Management Ltd purchased a new position in Ferrari in the 4th quarter valued at approximately $53,000.

Wall Street Analyst Weigh In

RACE has been the subject of several recent research reports. Wall Street Zen cut shares of Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. decreased their price target 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. 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 raised their price target 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, Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $526.25.

Ferrari Price Performance

Ferrari stock opened at $458.87 on Friday. The stock has a market cap of $111.22 billion, a P/E ratio of 48.56, a price-to-earnings-growth ratio of 5.33 and a beta of 1.10. The company has a fifty day simple moving average of $470.36 and a 200-day simple moving average of $453.06. Ferrari N.V. has a 12-month low of $391.54 and a 12-month high of $509.13. 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 released its quarterly earnings data on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.06. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.82 billion. Ferrari had a net margin of 23.00% and a return on equity of 46.46%. The company's revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.95 EPS. Equities analysts expect 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.

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