Checchi Capital Advisers LLC Raises Stock Holdings in Ferrari (NYSE:RACE)

Checchi Capital Advisers LLC boosted its position in shares of Ferrari (NYSE:RACE) by 5.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 1,513 shares of the company’s stock after acquiring an additional 77 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Ferrari were worth $492,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Fifth Third Bancorp boosted its position in Ferrari by 5.2% in the second quarter. Fifth Third Bancorp now owns 683 shares of the company’s stock valued at $222,000 after buying an additional 34 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Ferrari by 14.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 275 shares of the company’s stock valued at $89,000 after acquiring an additional 34 shares during the period. Roundview Capital LLC boosted its holdings in shares of Ferrari by 3.6% in the 1st quarter. Roundview Capital LLC now owns 1,141 shares of the company’s stock valued at $309,000 after acquiring an additional 40 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Ferrari by 30.1% in the second quarter. EverSource Wealth Advisors LLC now owns 177 shares of the company’s stock worth $58,000 after acquiring an additional 41 shares during the period. Finally, Simplicity Solutions LLC raised its holdings in shares of Ferrari by 3.4% during the second quarter. Simplicity Solutions LLC now owns 1,372 shares of the company’s stock worth $446,000 after purchasing an additional 45 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RACE shares. Sanford C. Bernstein upped their target price on Ferrari from $250.00 to $300.00 and gave the stock a “market perform” rating in a research note on Friday, August 18th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 6th. Jefferies Financial Group lifted their target price on shares of Ferrari from $275.00 to $300.00 and gave the company a “hold” rating in a report on Friday, August 25th. StockNews.com began coverage on shares of Ferrari in a report on Thursday, October 5th. They set a “buy” rating on the stock. Finally, Evercore ISI started coverage on shares of Ferrari in a research report on Tuesday, November 7th. They set an “outperform” rating and a $375.00 price target on the stock. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $311.69.

Ferrari Stock Up 0.7 %

RACE opened at $354.01 on Friday. The firm’s fifty day simple moving average is $308.76 and its two-hundred day simple moving average is $307.62. The company has a quick ratio of 3.08, a current ratio of 3.98 and a debt-to-equity ratio of 0.89. Ferrari has a 52-week low of $209.88 and a 52-week high of $355.10.

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.