Sowell Financial Services LLC Invests $344,000 in Ferrari N.V. (NYSE:RACE)

Sowell Financial Services LLC bought 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 13F filing with the Securities & Exchange Commission. The institutional investor bought 803 shares of the company's stock, valued at approximately $344,000.

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

Analyst Upgrades and Downgrades

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

Ferrari Stock Up 2.5%

Shares of NYSE RACE traded up $11.52 during mid-day trading on Tuesday, reaching $472.60. 442,594 shares of the company's stock were exchanged, compared to its average volume of 340,979. Ferrari N.V. has a twelve month low of $391.54 and a twelve month high of $509.13. The company has a current ratio of 5.09, a quick ratio of 4.04 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $114.55 billion, a price-to-earnings ratio of 50.01, a PEG ratio of 5.33 and a beta of 1.11. The business has a fifty day simple moving average of $470.99 and a 200 day simple moving average of $453.13.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share 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 23.00% and a return on equity of 46.46%. The business's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.95 earnings per share. As a group, equities analysts expect that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

About Ferrari

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.