CreativeOne Wealth LLC Invests $963,000 in Ferrari (NYSE:RACE)

CreativeOne Wealth LLC bought a new position in shares of Ferrari (NYSE:RACE) during the first quarter, Holdings Channel.com reports. The fund bought 2,209 shares of the company’s stock, valued at approximately $963,000.

Other institutional investors also recently modified their holdings of the company. Logan Capital Management Inc. raised its position in shares of Ferrari by 1.9% during the fourth quarter. Logan Capital Management Inc. now owns 4,668 shares of the company’s stock worth $1,580,000 after purchasing an additional 87 shares during the period. Sequoia Financial Advisors LLC raised its position in Ferrari by 1.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,247 shares of the company’s stock valued at $1,437,000 after buying an additional 40 shares during the last quarter. Vanguard Group Inc. raised its position in Ferrari by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 4,488,346 shares of the company’s stock valued at $1,518,991,000 after buying an additional 46,938 shares during the last quarter. Jennison Associates LLC raised its position in Ferrari by 10.5% in the 1st quarter. Jennison Associates LLC now owns 266,608 shares of the company’s stock valued at $116,225,000 after buying an additional 25,228 shares during the last quarter. Finally, Capital Wealth Planning LLC raised its position in Ferrari by 127.6% in the 1st quarter. Capital Wealth Planning LLC now owns 7,511 shares of the company’s stock valued at $3,274,000 after buying an additional 4,211 shares during the last quarter.

Ferrari Stock Up 1.9 %

Shares of RACE stock traded up $7.88 on Friday, hitting $413.80. 175,953 shares of the stock were exchanged, compared to its average volume of 179,789. The company has a quick ratio of 3.25, a current ratio of 4.18 and a debt-to-equity ratio of 0.80. Ferrari has a one year low of $285.02 and a one year high of $442.80. The firm’s 50 day moving average is $417.72 and its two-hundred day moving average is $406.88.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.08. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. Ferrari had a return on equity of 43.94% and a net margin of 21.42%. On average, equities analysts expect that Ferrari will post 8.24 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on RACE. UBS Group increased their price target on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Thursday, April 4th. Bank of America raised their target price on Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $400.00 target price on shares of Ferrari in a research report on Monday, April 22nd. Finally, Evercore ISI raised their target price on Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Ferrari currently has an average rating of “Hold” and a consensus price target of $461.67.

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.