Ferrari (NYSE:RACE) Stock Holdings Lifted by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its holdings in shares of Ferrari (NYSE:RACE) by 7.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,002 shares of the company’s stock after buying an additional 69 shares during the period. Apollon Wealth Management LLC’s holdings in Ferrari were worth $471,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. E Fund Management Hong Kong Co. Ltd. acquired a new position in Ferrari in the third quarter valued at approximately $29,000. Rothschild Investment LLC acquired a new position in Ferrari during the 2nd quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new position in Ferrari during the 3rd quarter worth $33,000. Valley Wealth Managers Inc. acquired a new stake in Ferrari in the second quarter worth $33,000. Finally, Denver PWM LLC bought a new stake in Ferrari in the second quarter valued at $35,000.

Wall Street Analysts Forecast Growth

RACE has been the topic of a number of analyst reports. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $385.00 to $525.00 in a report on Friday, October 11th. 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. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI raised their price target on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report 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 given a buy rating to the company’s stock. According to MarketBeat.com, Ferrari presently has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Trading Down 2.1 %

Shares of RACE stock opened at $430.99 on Friday. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The stock has a 50-day simple moving average of $466.22 and a 200 day simple moving average of $442.00. Ferrari has a fifty-two week low of $330.15 and a fifty-two week high of $498.23. The stock has a market capitalization of $79.63 billion, a P/E ratio of 50.06, a P/E/G ratio of 4.62 and a beta of 0.99.

Ferrari (NYSE:RACE) last announced 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). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the firm earned $1.98 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, sell-side analysts expect that Ferrari will post 8.75 earnings per share for the current fiscal year.

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.