Marshall Financial Group LLC Has $1.10 Million Stake in Ferrari (NYSE:RACE)

Marshall Financial Group LLC lifted its position in shares of Ferrari (NYSE:RACE) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,702 shares of the company’s stock after purchasing an additional 72 shares during the period. Marshall Financial Group LLC’s holdings in Ferrari were worth $1,103,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC bought a new stake in shares of Ferrari during the 1st quarter valued at about $33,000. Register Financial Advisors LLC bought a new position in shares of Ferrari in the first quarter worth $33,000. Pittenger & Anderson Inc. boosted its holdings in shares of Ferrari by 168.6% in the first quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock worth $41,000 after acquiring an additional 59 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Ferrari in the fourth quarter worth $43,000. Finally, Spire Wealth Management purchased a new stake in shares of Ferrari in the first quarter worth $46,000.

Ferrari Trading Up 1.2 %

Shares of NYSE RACE traded up $5.57 during midday trading on Friday, hitting $459.70. The stock had a trading volume of 316,054 shares, compared to its average volume of 272,065. Ferrari has a 1-year low of $285.02 and a 1-year high of $463.00. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.32 and a current ratio of 4.35. The company has a fifty day moving average price of $421.79 and a 200 day moving average price of $416.02.

Ferrari (NYSE:RACE) last announced its earnings results on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.08. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the company posted $1.99 EPS. Ferrari’s quarterly revenue was up 16.1% on a year-over-year basis. As a group, equities research analysts predict that Ferrari will post 8.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RACE. UBS Group lifted their price objective on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research report on Monday, June 24th. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Evercore ISI upped their target price on shares of Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Morgan Stanley reissued an “overweight” rating and set a $400.00 price objective on shares of Ferrari in a report on Monday, April 22nd. Finally, Jefferies Financial Group started coverage on shares of Ferrari in a research report on Friday, May 10th. They set a “hold” rating and a $403.00 target price on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.