TD Asset Management Inc raised its position in shares of Ferrari (NYSE:RACE – Free Report) by 34.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 248,153 shares of the company’s stock after purchasing an additional 63,529 shares during the quarter. TD Asset Management Inc’s holdings in Ferrari were worth $80,787,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Ferrari in the 1st quarter valued at approximately $27,000. Sunbelt Securities Inc. purchased a new stake in shares of Ferrari during the first quarter worth $39,000. Harvest Fund Management Co. Ltd grew its stake in Ferrari by 350.0% in the second quarter. Harvest Fund Management Co. Ltd now owns 153 shares of the company’s stock valued at $50,000 after purchasing an additional 119 shares in the last quarter. State of Wyoming acquired a new position in Ferrari in the 4th quarter worth about $38,000. Finally, EverSource Wealth Advisors LLC increased its position in Ferrari by 30.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 177 shares of the company’s stock worth $58,000 after purchasing an additional 41 shares during the last quarter.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on RACE. Sanford C. Bernstein lifted their price target on Ferrari from $250.00 to $300.00 and gave the company a “market perform” rating in a report on Friday, August 18th. Morgan Stanley boosted their target price on shares of Ferrari from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, November 3rd. Jefferies Financial Group increased their price target on shares of Ferrari from $275.00 to $300.00 and gave the stock a “hold” rating in a research note on Friday, August 25th. StockNews.com began coverage on shares of Ferrari in a report on Thursday, October 5th. They issued a “buy” rating for the company. Finally, Evercore ISI assumed coverage on Ferrari in a report on Tuesday, November 7th. They set an “outperform” rating and a $375.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ferrari has a consensus rating of “Moderate Buy” and an average target price of $311.69.
Ferrari Stock Up 3.7 %
Ferrari stock opened at $353.75 on Wednesday. The business’s 50-day simple moving average is $306.68 and its 200-day simple moving average is $306.98. Ferrari has a 52 week low of $209.88 and a 52 week high of $353.98. The company has a current ratio of 3.98, a quick ratio of 3.08 and a debt-to-equity ratio of 0.89.
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.
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