SOA Wealth Advisors LLC. Invests $4.18 Million in Ferrari (NYSE:RACE)

SOA Wealth Advisors LLC. bought a new position in shares of Ferrari (NYSE:RACE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,774 shares of the company's stock, valued at approximately $4,182,000.

Several other hedge funds also recently made changes to their positions in the business. Park Square Financial Group LLC acquired a new stake in shares of Ferrari in the 4th quarter valued at $32,000. Webster Bank N. A. acquired a new position in Ferrari during the first quarter worth about $43,000. Kestra Investment Management LLC bought a new position in shares of Ferrari in the fourth quarter worth about $45,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Ferrari in the 1st quarter valued at approximately $48,000. Finally, Plato Investment Management Ltd acquired a new stake in Ferrari in the fourth quarter valued at approximately $53,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RACE shares. 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. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Wall Street Zen cut shares of Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, 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. 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.com, Ferrari has an average rating of "Moderate Buy" and a consensus target price of $526.25.

Ferrari Trading Down 0.7%

Shares of RACE traded down $3.59 during trading hours on Monday, hitting $479.02. 211,553 shares of the stock were exchanged, compared to its average volume of 335,144. Ferrari has a fifty-two week low of $391.54 and a fifty-two week high of $509.13. The business has a 50-day moving average of $460.56 and a 200-day moving average of $450.92. The firm has a market capitalization of $116.10 billion, a P/E ratio of 52.35, 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 current ratio of 4.57 and a quick ratio of 3.55.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.06. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the company posted $1.95 EPS. The business's quarterly revenue was up 13.0% on a year-over-year basis. On average, research analysts expect that Ferrari will post 9.22 EPS 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.