Strategy Asset Managers LLC Makes New $252,000 Investment in Ferrari (NYSE:RACE)

Strategy Asset Managers LLC acquired a new stake in Ferrari (NYSE:RACE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 535 shares of the company’s stock, valued at approximately $252,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. West Family Investments Inc. grew its position in Ferrari by 20.9% in the 3rd quarter. West Family Investments Inc. now owns 678 shares of the company’s stock valued at $319,000 after acquiring an additional 117 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Ferrari by 0.7% in the third quarter. PNC Financial Services Group Inc. now owns 14,329 shares of the company’s stock valued at $6,736,000 after purchasing an additional 101 shares in the last quarter. Prospera Financial Services Inc purchased a new stake in Ferrari during the 3rd quarter worth approximately $257,000. Caprock Group LLC lifted its holdings in Ferrari by 1.7% during the 3rd quarter. Caprock Group LLC now owns 1,823 shares of the company’s stock worth $857,000 after buying an additional 31 shares in the last quarter. Finally, Pathstone Holdings LLC boosted its position in Ferrari by 1.9% in the 3rd quarter. Pathstone Holdings LLC now owns 33,131 shares of the company’s stock valued at $15,575,000 after buying an additional 633 shares during the period.

Analysts Set New Price Targets

RACE has been the topic of a number of recent research reports. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group increased their price target on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Morgan Stanley boosted their price objective on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. Finally, Evercore ISI lifted their price target on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Price Performance

Shares of Ferrari stock opened at $427.16 on Thursday. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 52 week low of $330.15 and a 52 week high of $498.23. The firm’s 50 day moving average is $463.76 and its two-hundred day moving average is $442.32.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.03). The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.98 EPS. On average, analysts predict that Ferrari will post 8.75 earnings per share for the current fiscal year.

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.