Ferrari (NYSE:RACE) Stake Boosted by Private Advisor Group LLC

Private Advisor Group LLC increased its position in shares of Ferrari (NYSE:RACE – Get Rating) by 17.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,647 shares of the company’s stock after purchasing an additional 250 shares during the period. Private Advisor Group LLC’s holdings in Ferrari were worth $305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Wahed Invest LLC bought a new stake in Ferrari in the second quarter valued at $114,000. ING Groep NV bought a new stake in Ferrari in the second quarter valued at $783,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Ferrari by 290.2% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 5,310 shares of the company’s stock valued at $973,000 after buying an additional 3,949 shares during the last quarter. Stony Point Capital LLC lifted its stake in Ferrari by 40.1% in the first quarter. Stony Point Capital LLC now owns 75,478 shares of the company’s stock valued at $16,461,000 after buying an additional 21,607 shares during the last quarter. Finally, Chilton Capital Management LLC bought a new stake in Ferrari in the second quarter valued at $147,000. 32.21% of the stock is currently owned by institutional investors.

Ferrari Price Performance

NYSE:RACE opened at $216.08 on Friday. The business’s 50-day moving average price is $213.85 and its 200 day moving average price is $201.94. The firm has a market cap of $39.92 billion, a P/E ratio of 39.50, a PEG ratio of 3.07 and a beta of 0.97. Ferrari has a 52-week low of $167.45 and a 52-week high of $263.04. The company has a quick ratio of 3.74, a current ratio of 4.47 and a debt-to-equity ratio of 1.21.

Ferrari (NYSE:RACE – Get Rating) last released its earnings results on Wednesday, November 2nd. The company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.10. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.15 billion. Ferrari had a return on equity of 40.02% and a net margin of 19.00%. As a group, sell-side analysts predict that Ferrari will post 5.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on RACE. Royal Bank of Canada raised their target price on Ferrari from €261.00 ($277.66) to €265.00 ($281.91) in a research note on Monday, December 12th. HSBC raised Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, October 27th. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, November 9th. Finally, Morgan Stanley lowered their price target on Ferrari from $300.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, November 3rd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.50.

Ferrari Profile

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Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hyper cars; one-off and track cars; and Icona cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.