Perissos Private Wealth Management LLC Invests $742,000 in Ferrari N.V. (NYSE:RACE)

Perissos Private Wealth Management LLC acquired a new stake in Ferrari N.V. (NYSE:RACE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,733 shares of the company's stock, valued at approximately $742,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Ferrari by 8.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company's stock valued at $4,307,000 after buying an additional 755 shares during the period. Fox Run Management L.L.C. acquired a new stake in Ferrari during the 4th quarter worth approximately $853,000. Zurich Insurance Group Ltd FI grew its holdings in Ferrari by 13.2% during the 4th quarter. Zurich Insurance Group Ltd FI now owns 79,796 shares of the company's stock worth $34,042,000 after acquiring an additional 9,274 shares during the last quarter. Russell Investments Group Ltd. increased its position in Ferrari by 2.6% in the 4th quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company's stock valued at $54,847,000 after acquiring an additional 3,277 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new position in Ferrari in the 4th quarter valued at approximately $3,371,000.

Analyst Ratings Changes

A number of brokerages have recently commented on RACE. UBS Group lifted their price target on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Wall Street Zen downgraded Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. cut their price objective on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Ferrari presently has an average rating of "Moderate Buy" and a consensus target price of $526.25.

Ferrari Trading Up 0.3%

RACE traded up $1.63 during trading on Wednesday, reaching $491.00. 288,094 shares of the stock traded hands, compared to its average volume of 344,967. 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's 50-day moving average is $477.28 and its 200 day moving average is $454.70. Ferrari N.V. has a 12 month low of $391.54 and a 12 month high of $509.13. The stock has a market capitalization of $119.01 billion, a PE ratio of 51.96, a P/E/G ratio of 5.57 and a beta of 1.09.

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 company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.82 billion. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. The firm's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.95 EPS. Equities analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current year.

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.