Ferrari (NYSE:RACE) Shares Purchased by Parisi Gray Wealth Management

Parisi Gray Wealth Management grew its holdings in shares of Ferrari (NYSE:RACE) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,316 shares of the company’s stock after purchasing an additional 52 shares during the period. Parisi Gray Wealth Management’s holdings in Ferrari were worth $562,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cerity Partners LLC boosted its stake in Ferrari by 14.0% during the 3rd quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock valued at $12,653,000 after purchasing an additional 3,308 shares during the period. Rheos Capital Works Inc. increased its stake in Ferrari by 30.3% during the 3rd quarter. Rheos Capital Works Inc. now owns 111,700 shares of the company’s stock valued at $52,511,000 after buying an additional 26,000 shares during the period. Raymond James & Associates raised its position in shares of Ferrari by 1.4% during the 3rd quarter. Raymond James & Associates now owns 50,940 shares of the company’s stock worth $23,948,000 after buying an additional 693 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Ferrari by 60.0% in the 3rd quarter. Franklin Resources Inc. now owns 22,055 shares of the company’s stock worth $10,707,000 after acquiring an additional 8,267 shares during the period. Finally, Icon Wealth Advisors LLC boosted its holdings in shares of Ferrari by 1,403.2% in the third quarter. Icon Wealth Advisors LLC now owns 6,043 shares of the company’s stock valued at $2,841,000 after acquiring an additional 5,641 shares in the last quarter.

Ferrari Trading Down 2.6 %

NYSE RACE traded down $10.98 on Monday, hitting $418.31. 292,348 shares of the company were exchanged, compared to its average volume of 239,493. Ferrari has a twelve month low of $330.15 and a twelve month high of $498.23. The company’s 50 day moving average price is $436.85 and its 200-day moving average price is $447.82. The firm has a market capitalization of $77.28 billion, a P/E ratio of 48.58, a price-to-earnings-growth ratio of 4.26 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the company posted $1.98 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. Analysts predict that Ferrari will post 8.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RACE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $385.00 to $525.00 in a research report on Friday, October 11th. UBS Group upped their price objective on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Evercore ISI lifted their target price on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $507.14.

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.