EverSource Wealth Advisors LLC Purchases 27 Shares of Ferrari (NYSE:RACE)

EverSource Wealth Advisors LLC lifted its position in shares of Ferrari (NYSE:RACE) by 12.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 243 shares of the company’s stock after purchasing an additional 27 shares during the period. EverSource Wealth Advisors LLC’s holdings in Ferrari were worth $101,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in RACE. Norges Bank bought a new position in shares of Ferrari during the fourth quarter worth approximately $572,523,000. Capital International Investors grew its position in Ferrari by 314.3% during the first quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock worth $454,792,000 after buying an additional 791,596 shares in the last quarter. Clearbridge Investments LLC grew its position in Ferrari by 6,024.9% during the first quarter. Clearbridge Investments LLC now owns 380,910 shares of the company’s stock worth $166,054,000 after buying an additional 374,691 shares in the last quarter. Capital World Investors grew its position in Ferrari by 34.3% during the first quarter. Capital World Investors now owns 962,583 shares of the company’s stock worth $419,547,000 after buying an additional 245,872 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in Ferrari by 172.8% during the fourth quarter. Mackenzie Financial Corp now owns 329,927 shares of the company’s stock worth $111,508,000 after buying an additional 208,966 shares in the last quarter.

Ferrari Price Performance

Shares of RACE traded down $3.15 during trading hours on Tuesday, reaching $419.63. The stock had a trading volume of 199,632 shares, compared to its average volume of 273,179. The stock has a market capitalization of $77.53 billion, a PE ratio of 53.31, a PEG ratio of 4.81 and a beta of 0.99. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.25 and a current ratio of 4.18. Ferrari has a 12 month low of $285.02 and a 12 month high of $442.80. The company’s 50-day moving average is $418.05 and its two-hundred day moving average is $410.69.

Ferrari (NYSE:RACE) last announced its earnings results on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.08. Ferrari had a return on equity of 45.20% and a net margin of 21.84%. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the company earned $1.99 EPS. Ferrari’s revenue for the quarter was up 16.1% compared to the same quarter last year. Research analysts expect that Ferrari will post 8.51 EPS for the current year.

Wall Street Analyst Weigh In

RACE has been the topic of a number of analyst reports. Sanford C. Bernstein increased their price target on Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Morgan Stanley reissued an “overweight” rating and set a $400.00 price target on shares of Ferrari in a research report on Monday, April 22nd. UBS Group increased their price target on Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday. Finally, Jefferies Financial Group assumed coverage on Ferrari in a report on Friday, May 10th. They issued a “hold” rating and a $403.00 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” 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.