Simon Quick Advisors LLC Takes Position in Ferrari N.V. (NYSE:RACE)

Simon Quick Advisors LLC purchased a new position in shares of Ferrari N.V. (NYSE:RACE - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 737 shares of the company's stock, valued at approximately $315,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new stake in shares of Ferrari during the fourth quarter worth $32,000. Webster Bank N. A. bought a new stake in Ferrari during the 1st quarter worth about $43,000. Kestra Investment Management LLC bought a new stake in Ferrari during the 4th quarter worth about $45,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Ferrari during the 1st quarter valued at about $48,000. Finally, Plato Investment Management Ltd bought a new position in shares of Ferrari in the 4th quarter valued at about $53,000.

Wall Street Analyst Weigh In

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

Ferrari Trading Up 0.1%

NYSE:RACE traded up $0.36 on Wednesday, reaching $461.01. The company's stock had a trading volume of 118,448 shares, compared to its average volume of 339,272. Ferrari N.V. has a 1-year low of $391.54 and a 1-year high of $509.13. The business's 50-day moving average price is $468.46 and its two-hundred day moving average price is $452.69. The firm has a market cap of $111.74 billion, a PE ratio of 48.74, a PEG ratio of 5.40 and a beta of 1.10. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.04 and a current ratio of 5.09.

Ferrari (NYSE:RACE - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $2.42 earnings per share (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 analyst estimates of $1.82 billion. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. Ferrari's quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.95 EPS. Equities research analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current fiscal 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.