Ferrari (NYSE:RACE) Shares Acquired by Capital Wealth Planning LLC

Capital Wealth Planning LLC grew its position in Ferrari (NYSE:RACE) by 127.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,511 shares of the company’s stock after acquiring an additional 4,211 shares during the quarter. Capital Wealth Planning LLC’s holdings in Ferrari were worth $3,274,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Blue Trust Inc. boosted its holdings in shares of Ferrari by 37.0% in the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after acquiring an additional 30 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Ferrari by 0.7% during the first quarter. Sequoia Financial Advisors LLC now owns 4,277 shares of the company’s stock worth $1,865,000 after purchasing an additional 30 shares during the period. Lorne Steinberg Wealth Management Inc. lifted its holdings in shares of Ferrari by 0.3% during the first quarter. Lorne Steinberg Wealth Management Inc. now owns 9,552 shares of the company’s stock worth $4,164,000 after purchasing an additional 30 shares during the period. Hexagon Capital Partners LLC lifted its holdings in shares of Ferrari by 16.0% during the first quarter. Hexagon Capital Partners LLC now owns 239 shares of the company’s stock worth $104,000 after purchasing an additional 33 shares during the period. Finally, Rehmann Capital Advisory Group lifted its holdings in shares of Ferrari by 5.6% during the first quarter. Rehmann Capital Advisory Group now owns 645 shares of the company’s stock worth $281,000 after purchasing an additional 34 shares during the period.

Ferrari Trading Up 1.6 %

NYSE:RACE traded up $6.69 during mid-day trading on Friday, reaching $435.16. The company’s stock had a trading volume of 163,630 shares, compared to its average volume of 186,188. The company’s fifty day simple moving average is $416.16 and its two-hundred day simple moving average is $401.58. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.18 and a quick ratio of 3.25. Ferrari has a twelve month low of $285.02 and a twelve month high of $442.80. The stock has a market cap of $80.40 billion, a P/E ratio of 55.58, a P/E/G ratio of 5.19 and a beta of 0.99.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.08. Ferrari had a return on equity of 43.94% and a net margin of 21.42%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. On average, equities analysts predict that Ferrari will post 8.2 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. UBS Group increased their price target on Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Morgan Stanley restated an “overweight” rating and issued a $400.00 price target on shares of Ferrari in a research report on Monday, April 22nd. Bank of America raised their price target on Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Jefferies Financial Group initiated coverage on Ferrari in a research report on Friday, May 10th. They issued a “hold” rating and a $403.00 price target for the company. Finally, Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Ferrari currently has an average rating of “Hold” and a consensus price target of $461.67.

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.