SG Americas Securities LLC Purchases 3,970 Shares of Ferrari (NYSE:RACE)

SG Americas Securities LLC boosted its position in Ferrari (NYSE:RACE - Free Report) by 172.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,268 shares of the company's stock after purchasing an additional 3,970 shares during the quarter. SG Americas Securities LLC's holdings in Ferrari were worth $2,682,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Park Square Financial Group LLC purchased a new position in Ferrari during the 4th quarter valued at about $32,000. Webster Bank N. A. purchased a new position in Ferrari during the 1st quarter worth approximately $43,000. Kestra Investment Management LLC purchased a new position in Ferrari during the 4th quarter worth approximately $45,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Ferrari in the 1st quarter valued at approximately $48,000. Finally, Plato Investment Management Ltd purchased a new position in shares of Ferrari in the 4th quarter valued at approximately $53,000.

Ferrari Price Performance

Shares of RACE stock traded down $10.35 during mid-day trading on Friday, hitting $462.31. 646,373 shares of the stock traded hands, compared to its average volume of 340,057. The firm has a market cap of $112.05 billion, a price-to-earnings ratio of 50.53, a price-to-earnings-growth ratio of 4.43 and a beta of 1.10. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The company's 50-day simple moving average is $466.59 and its 200-day simple moving average is $452.29. Ferrari has a twelve month low of $391.54 and a twelve month high of $509.13.

Ferrari (NYSE:RACE - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the company posted $1.95 earnings per share. Ferrari's revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities research analysts expect that Ferrari will post 9.22 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on RACE. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a research note 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 report on Thursday, March 27th. Wall Street Zen downgraded Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Finally, UBS Group upped their price objective 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 given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $526.25.

Ferrari Company 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.