Moran Wealth Management LLC Buys Shares of 534 Ferrari N.V. (NYSE:RACE)

Moran Wealth Management LLC purchased a new stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 534 shares of the company's stock, valued at approximately $226,000.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Ferrari in the 4th quarter worth approximately $697,226,000. Price T Rowe Associates Inc. MD boosted its position 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 acquiring an additional 594,547 shares during the period. Barclays PLC grew its stake in shares of Ferrari by 198.0% in the fourth quarter. Barclays PLC now owns 853,971 shares of the company's stock worth $362,802,000 after purchasing an additional 567,407 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Ferrari by 62.1% during the fourth quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock valued at $579,561,000 after purchasing an additional 520,337 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Ferrari by 380.7% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company's stock valued at $107,770,000 after purchasing an additional 192,694 shares in the last quarter.

Ferrari Price Performance

Shares of RACE traded up $13.68 during trading hours on Friday, hitting $491.22. 488,716 shares of the company were exchanged, compared to its average volume of 344,102. 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 company has a market capitalization of $119.06 billion, a PE ratio of 51.98, a PEG ratio of 5.59 and a beta of 1.10. The firm has a fifty day simple moving average of $474.35 and a 200-day simple moving average of $453.94. Ferrari N.V. has a one year low of $391.54 and a one year high of $509.13.

Ferrari (NYSE:RACE - Get Free Report) last announced 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. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.82 billion. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. Ferrari's revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.95 earnings per share. As a group, sell-side analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RACE. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research 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. JPMorgan Chase & Co. dropped their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Wall Street Zen downgraded Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, UBS Group increased their price target on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Ferrari presently has an average 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.