Wealth Enhancement Advisory Services LLC Acquires 1,022 Shares of Ferrari (NYSE:RACE)

Wealth Enhancement Advisory Services LLC boosted its stake in Ferrari (NYSE:RACE - Free Report) by 43.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,367 shares of the company's stock after purchasing an additional 1,022 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Ferrari were worth $1,430,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Norges Bank purchased a new position in Ferrari in the 4th quarter valued at about $697,226,000. Price T Rowe Associates Inc. MD increased its stake in Ferrari by 49.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock valued at $763,125,000 after purchasing an additional 594,547 shares during the last quarter. Barclays PLC raised its stake in Ferrari by 198.0% during the fourth 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 lifted its holdings in shares of Ferrari by 62.1% in the 4th quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock worth $579,561,000 after purchasing an additional 520,337 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Ferrari by 380.7% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company's stock valued at $107,770,000 after acquiring an additional 192,694 shares during the period.

Ferrari Stock Performance

Shares of RACE traded down $3.59 during mid-day trading on Monday, hitting $479.02. The company's stock had a trading volume of 211,553 shares, compared to its average volume of 335,144. Ferrari has a one year low of $391.54 and a one year high of $509.13. The stock's 50-day moving average is $460.56 and its two-hundred day moving average is $450.92. The firm has a market capitalization of $116.10 billion, a PE 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 quick ratio of 3.55 and a current ratio of 4.57.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly 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. Ferrari had a net margin of 22.81% and a return on equity of 46.69%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the business posted $1.95 EPS. The business's quarterly revenue was up 13.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Ferrari will post 9.22 EPS for the current year.

Wall Street Analyst Weigh In

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