Wealth Enhancement Advisory Services LLC boosted its position in Ferrari (NYSE:RACE - Free Report) by 43.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,367 shares of the company's stock after buying an additional 1,022 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Ferrari were worth $1,430,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Ferrari by 8.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company's stock worth $4,307,000 after purchasing an additional 755 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Ferrari during the fourth quarter worth about $853,000. Zurich Insurance Group Ltd FI lifted its holdings in shares of Ferrari by 13.2% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 79,796 shares of the company's stock worth $34,042,000 after acquiring an additional 9,274 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Ferrari by 2.6% in the fourth quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company's stock worth $54,847,000 after acquiring an additional 3,277 shares during the last quarter. Finally, Sapient Capital LLC lifted its holdings in shares of Ferrari by 1.0% in the fourth quarter. Sapient Capital LLC now owns 67,322 shares of the company's stock worth $28,737,000 after acquiring an additional 653 shares during the last quarter.
Ferrari Stock Down 0.9%
Shares of NYSE:RACE traded down $4.37 during trading on Wednesday, reaching $482.02. The stock had a trading volume of 374,560 shares, compared to its average volume of 337,755. The company has a market capitalization of $116.83 billion, a P/E ratio of 52.68, a PEG ratio of 4.43 and a beta of 1.10. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The firm's 50-day simple moving average is $463.81 and its 200 day simple moving average is $451.66. Ferrari has a one year low of $391.54 and a one year high of $509.13.
Ferrari (NYSE:RACE - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.06. The company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.82 billion. Ferrari had a net margin of 22.81% and a return on equity of 46.69%. The firm's quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.95 EPS. As a group, research analysts expect that Ferrari will post 9.22 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on RACE shares. Wall Street Zen downgraded shares of Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. UBS Group lifted their price target 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. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. JPMorgan Chase & Co. cut their price target on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Finally, Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" 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 data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $526.25.
Read Our Latest Stock Report on RACE
Ferrari Profile
(
Free Report)
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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