Signaturefd LLC Raises Stock Position in Ferrari (NYSE:RACE)

Signaturefd LLC lifted its stake in Ferrari (NYSE:RACE) by 10.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,064 shares of the company’s stock after buying an additional 288 shares during the period. Signaturefd LLC’s holdings in Ferrari were worth $1,440,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RACE. Rothschild Investment LLC acquired a new stake in shares of Ferrari in the second quarter valued at approximately $29,000. Register Financial Advisors LLC purchased a new position in Ferrari during the 1st quarter worth $33,000. Valley Wealth Managers Inc. acquired a new position in Ferrari in the second quarter valued at $33,000. Denver PWM LLC purchased a new stake in shares of Ferrari in the second quarter valued at about $35,000. Finally, Pittenger & Anderson Inc. boosted its stake in shares of Ferrari by 168.6% during the first quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock worth $41,000 after buying an additional 59 shares during the period.

Wall Street Analyst Weigh In

RACE has been the subject of several analyst reports. Evercore ISI upped their price objective on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Morgan Stanley upped their price objective on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $385.00 to $525.00 in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $502.14.

Ferrari Stock Up 0.8 %

RACE stock opened at $482.44 on Thursday. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01. The company’s 50-day moving average price is $472.13 and its 200 day moving average price is $436.82. Ferrari has a 52 week low of $296.34 and a 52 week high of $498.23. The company has a market cap of $89.13 billion, a P/E ratio of 61.61, a P/E/G ratio of 5.12 and a beta of 0.99.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Thursday, August 1st. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.21 by $0.08. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the company earned $1.99 EPS. The company’s quarterly revenue was up 16.1% on a year-over-year basis. On average, research analysts expect that Ferrari will post 8.65 earnings per share 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.