WESPAC Advisors SoCal LLC Has $2 Million Stake in Ferrari N.V. (NYSE:RACE)

WESPAC Advisors SoCal LLC lifted its stake in Ferrari N.V. (NYSE:RACE - Free Report) by 30.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,673 shares of the company's stock after purchasing an additional 1,081 shares during the period. WESPAC Advisors SoCal LLC's holdings in Ferrari were worth $2,000,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Ferrari by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company's stock worth $2,002,581,000 after buying an additional 45,754 shares during the period. Bank of Italy raised its stake in Ferrari by 2.9% during the 1st quarter. Bank of Italy now owns 2,407,271 shares of the company's stock worth $1,021,078,000 after buying an additional 67,651 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Ferrari by 49.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock worth $763,125,000 after buying an additional 594,547 shares during the period. Bank of New York Mellon Corp raised its stake in Ferrari by 2.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,644,415 shares of the company's stock worth $703,612,000 after buying an additional 32,307 shares during the period. Finally, Norges Bank acquired a new stake in Ferrari during the 4th quarter worth $697,226,000.

Ferrari Stock Performance

Shares of Ferrari stock traded up $1.10 on Friday, hitting $517.30. The stock had a trading volume of 271,697 shares, compared to its average volume of 401,908. Ferrari N.V. has a twelve month low of $391.54 and a twelve month high of $519.10. The business's 50 day moving average is $485.06 and its two-hundred day moving average is $462.46. 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 cap of $125.38 billion, a price-to-earnings ratio of 54.74, a price-to-earnings-growth ratio of 5.67 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 EPS for the quarter, beating the consensus estimate of $2.36 by $0.06. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the business earned $1.95 earnings per share. The firm's revenue for the quarter was up 13.0% on a year-over-year basis. Analysts forecast that Ferrari N.V. will post 9.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. UBS Group increased their price objective on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price objective on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Wall Street Zen downgraded Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock 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.