LPL Financial LLC grew its stake in shares of Ferrari (NYSE:RACE – Free Report) by 23.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 23,744 shares of the company’s stock after buying an additional 4,571 shares during the period. LPL Financial LLC’s holdings in Ferrari were worth $7,722,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in RACE. Fifth Third Bancorp increased its stake in Ferrari by 5.2% in the second quarter. Fifth Third Bancorp now owns 683 shares of the company’s stock valued at $222,000 after acquiring an additional 34 shares during the period. Roundview Capital LLC increased its stake in Ferrari by 3.6% in the first quarter. Roundview Capital LLC now owns 1,141 shares of the company’s stock valued at $309,000 after acquiring an additional 40 shares during the period. Simplicity Solutions LLC increased its stake in Ferrari by 3.4% in the second quarter. Simplicity Solutions LLC now owns 1,372 shares of the company’s stock valued at $446,000 after acquiring an additional 45 shares during the period. Angeles Wealth Management LLC increased its stake in Ferrari by 3.1% in the fourth quarter. Angeles Wealth Management LLC now owns 1,755 shares of the company’s stock valued at $376,000 after acquiring an additional 52 shares during the period. Finally, Keybank National Association OH increased its stake in Ferrari by 4.9% in the first quarter. Keybank National Association OH now owns 1,177 shares of the company’s stock valued at $319,000 after acquiring an additional 55 shares during the period.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. UBS Group upped their target price on shares of Ferrari from $368.00 to $375.00 and gave the company a “buy” rating in a research note on Friday, September 1st. Jefferies Financial Group upped their price objective on shares of Ferrari from $275.00 to $300.00 and gave the stock a “hold” rating in a research note on Friday, August 25th. Sanford C. Bernstein upped their price objective on shares of Ferrari from $250.00 to $300.00 and gave the stock a “market perform” rating in a research note on Friday, August 18th. Bank of America upped their price objective on shares of Ferrari from $350.00 to $380.00 in a research note on Thursday, July 6th. Finally, StockNews.com assumed coverage on shares of Ferrari in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $304.36.
Ferrari Price Performance
RACE opened at $301.64 on Wednesday. Ferrari has a one year low of $188.93 and a one year high of $329.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.91 and a quick ratio of 3.04. The company’s 50 day simple moving average is $302.50 and its 200-day simple moving average is $303.11.
Ferrari (NYSE:RACE – Get Free Report) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.22. Ferrari had a net margin of 19.60% and a return on equity of 40.70%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Sell-side analysts anticipate that Ferrari will post 6.82 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.
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