Kovack Advisors Inc. trimmed its position in Ferrari N.V. (NYSE:RACE - Free Report) by 32.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,219 shares of the company's stock after selling 583 shares during the period. Kovack Advisors Inc.'s holdings in Ferrari were worth $521,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GW&K Investment Management LLC lifted its holdings in Ferrari by 288.9% in the 1st quarter. GW&K Investment Management LLC now owns 70 shares of the company's stock valued at $30,000 after purchasing an additional 52 shares in the last quarter. Park Square Financial Group LLC purchased a new position in Ferrari in the 4th quarter valued at about $32,000. Alpine Bank Wealth Management purchased a new position in Ferrari in the 1st quarter valued at about $33,000. Webster Bank N. A. purchased a new position in Ferrari in the 1st quarter valued at about $43,000. Finally, Cornerstone Planning Group LLC lifted its holdings in Ferrari by 140.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 101 shares of the company's stock valued at $45,000 after purchasing an additional 59 shares in the last quarter.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Finally, UBS Group increased their price objective on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $526.25.
Get Our Latest Analysis on RACE
Ferrari Trading Up 0.2%
Shares of RACE stock opened at $517.30 on Friday. The firm has a market cap of $125.38 billion, a P/E ratio of 54.74, a PEG ratio of 5.66 and a beta of 1.09. Ferrari N.V. has a 1-year low of $391.54 and a 1-year high of $519.10. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 4.04. The firm's 50-day simple moving average is $485.42 and its 200-day simple moving average is $463.08.
Ferrari (NYSE:RACE - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.06. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.82 billion. Ferrari had a net margin of 23.00% and a return on equity of 46.46%. The company's revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.95 EPS. As a group, equities analysts forecast that Ferrari N.V. will post 9.22 EPS for the current year.
About Ferrari
(
Free Report)
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.
Further Reading

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