Novem Group Purchases Shares of 1,933 Ferrari (NYSE:RACE)

Novem Group purchased a new stake in shares of Ferrari (NYSE:RACE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,933 shares of the company's stock, valued at approximately $821,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of RACE. Hanson & Doremus Investment Management purchased a new stake in Ferrari in the fourth quarter valued at approximately $26,000. Kestra Investment Management LLC acquired a new stake in Ferrari during the 4th quarter worth approximately $45,000. Plato Investment Management Ltd purchased a new stake in shares of Ferrari during the 4th quarter worth $53,000. Newbridge Financial Services Group Inc. boosted its stake in Ferrari by 705.9% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company's stock worth $58,000 after purchasing an additional 120 shares during the period. Finally, Pittenger & Anderson Inc. raised its position in Ferrari by 53.2% in the fourth quarter. Pittenger & Anderson Inc. now owns 144 shares of the company's stock worth $61,000 after acquiring an additional 50 shares in the last quarter.

Ferrari Stock Performance

Ferrari stock traded up $3.74 during trading hours on Tuesday, reaching $479.96. 243,197 shares of the company were exchanged, compared to its average volume of 332,430. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The firm has a market cap of $116.33 billion, a price-to-earnings ratio of 52.43, a PEG ratio of 4.43 and a beta of 1.13. The stock has a 50-day moving average of $451.83 and a 200 day moving average of $448.17. Ferrari has a 12 month low of $391.54 and a 12 month high of $509.13.

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

Analyst Ratings Changes

RACE has been the topic of a number of recent analyst reports. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. 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 report on Wednesday, May 7th. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. JPMorgan Chase & Co. decreased their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a "hold" rating on the stock. Two 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, Ferrari presently has an average rating of "Moderate Buy" and an average 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.