Ferrari N.V. (NYSE:RACE) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 21.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,074 shares of the company's stock after purchasing an additional 707 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Ferrari were worth $1,743,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Ferrari by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company's stock valued at $2,002,581,000 after purchasing an additional 45,754 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Ferrari by 49.5% in 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 buying an additional 594,547 shares in the last quarter. Norges Bank acquired a new position in Ferrari during the fourth quarter worth $697,226,000. Marshall Wace LLP grew its holdings in Ferrari by 62.1% during the fourth 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, Capital International Investors raised its position in Ferrari by 1.3% in the fourth quarter. Capital International Investors now owns 1,108,490 shares of the company's stock worth $475,175,000 after acquiring an additional 14,463 shares in the last quarter.

Ferrari Trading Down 0.3%

Shares of RACE stock traded down $1.52 during mid-day trading on Tuesday, reaching $489.22. The company's stock had a trading volume of 354,172 shares, compared to its average volume of 344,751. The company's 50 day simple moving average is $475.46 and its 200-day simple moving average is $454.21. The company has a quick ratio of 4.04, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. Ferrari N.V. has a 12-month low of $391.54 and a 12-month high of $509.13. The firm has a market capitalization of $118.58 billion, a PE ratio of 51.93, a price-to-earnings-growth ratio of 5.58 and a beta of 1.10.

Ferrari (NYSE:RACE - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $2.42 EPS 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 return on equity of 46.46% and a net margin of 23.00%. The business's revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.95 EPS. On average, research analysts predict that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on RACE. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. UBS Group upped their target price on shares of Ferrari from $520.00 to $560.00 and gave the stock 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 report on Friday, March 28th. Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. reduced their price objective on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $526.25.

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.