Janney Montgomery Scott LLC Has $34.29 Million Stake in Ferrari (NYSE:RACE)

Janney Montgomery Scott LLC reduced its position in shares of Ferrari (NYSE:RACE - Free Report) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,149 shares of the company's stock after selling 4,776 shares during the quarter. Janney Montgomery Scott LLC's holdings in Ferrari were worth $34,294,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in RACE. HBK Sorce Advisory LLC lifted its stake in Ferrari by 3.6% in the 4th quarter. HBK Sorce Advisory LLC now owns 626 shares of the company's stock valued at $266,000 after purchasing an additional 22 shares during the last quarter. Citizens Financial Group Inc. RI raised its stake in Ferrari by 4.4% in the fourth quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company's stock valued at $251,000 after buying an additional 25 shares during the period. Garde Capital Inc. lifted its position in shares of Ferrari by 5.0% in the fourth quarter. Garde Capital Inc. now owns 525 shares of the company's stock valued at $223,000 after buying an additional 25 shares during the last quarter. PDS Planning Inc boosted its stake in shares of Ferrari by 4.8% during the 4th quarter. PDS Planning Inc now owns 589 shares of the company's stock worth $250,000 after acquiring an additional 27 shares during the period. Finally, Fifth Third Bancorp boosted its stake in shares of Ferrari by 7.9% during the 1st quarter. Fifth Third Bancorp now owns 424 shares of the company's stock worth $181,000 after acquiring an additional 31 shares during the period.

Ferrari Trading Up 0.3%

RACE stock opened at $464.99 on Tuesday. Ferrari has a 52 week low of $391.54 and a 52 week high of $509.13. The company has a market capitalization of $112.70 billion, a PE ratio of 50.82, a price-to-earnings-growth ratio of 4.43 and a beta of 1.10. The company's 50-day simple moving average is $467.92 and its 200 day simple moving average is $452.65. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings data 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 net margin of 22.81% and a return on equity of 46.69%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the firm posted $1.95 EPS. The business's revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ferrari will post 9.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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