Ferrari (NYSE:RACE) Position Increased by American Trust

American Trust boosted its position in shares of Ferrari (NYSE:RACE) by 117.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,554 shares of the company’s stock after purchasing an additional 1,377 shares during the period. American Trust’s holdings in Ferrari were worth $1,201,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Ferrari in the 3rd quarter valued at approximately $29,000. Planning Capital Management Corp acquired a new position in shares of Ferrari during the 3rd quarter worth $30,000. Rothschild Investment LLC bought a new position in shares of Ferrari during the 2nd quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Ferrari in the 3rd quarter valued at $33,000. Finally, Valley Wealth Managers Inc. bought a new stake in Ferrari in the second quarter worth $33,000.

Ferrari Stock Up 0.5 %

RACE stock opened at $451.87 on Friday. Ferrari has a 1-year low of $330.15 and a 1-year high of $498.23. 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 business’s 50 day moving average is $455.37 and its 200-day moving average is $445.21.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the company earned $1.98 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts expect that Ferrari will post 8.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on RACE shares. UBS Group boosted their price target on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Morgan Stanley increased their price target on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI lifted their target price on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

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.