Sowell Financial Services LLC Makes New $344,000 Investment 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 disclosure with the SEC. The fund bought 803 shares of the company's stock, valued at approximately $344,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RACE. Norges Bank acquired a new stake in Ferrari during the 4th quarter worth $697,226,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Ferrari by 49.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock worth $763,125,000 after acquiring an additional 594,547 shares during the period. Barclays PLC raised its holdings in shares of Ferrari by 198.0% during the 4th quarter. Barclays PLC now owns 853,971 shares of the company's stock worth $362,802,000 after acquiring an additional 567,407 shares during the period. Marshall Wace LLP raised its holdings in shares of Ferrari by 62.1% during the 4th quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock worth $579,561,000 after acquiring an additional 520,337 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Ferrari by 380.7% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company's stock worth $107,770,000 after acquiring an additional 192,694 shares during the period.

Ferrari Stock Down 0.4%

Shares of RACE opened at $458.87 on Friday. The firm has a market cap of $111.22 billion, a P/E ratio of 48.56, a price-to-earnings-growth ratio of 5.35 and a beta of 1.10. Ferrari N.V. has a 12-month low of $391.54 and a 12-month high of $509.13. The company's 50-day moving average price is $470.36 and its 200 day moving average price is $453.01. The company has a current ratio of 5.09, a quick ratio of 4.04 and a debt-to-equity ratio of 0.93.

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 firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.82 billion. Ferrari had a net margin of 23.00% and a return on equity of 46.46%. Ferrari's revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.95 EPS. On average, sell-side analysts forecast that Ferrari N.V. will post 9.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RACE. UBS Group lifted their price target on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. JPMorgan Chase & Co. reduced their price target on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Finally, Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.

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