Janney Montgomery Scott LLC Purchases 2,722 Shares of Ferrari (NYSE:RACE)

Janney Montgomery Scott LLC increased its position in shares of Ferrari (NYSE:RACE) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,257 shares of the company’s stock after acquiring an additional 2,722 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Ferrari were worth $32,559,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. boosted its stake in Ferrari by 27.2% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 103 shares of the company’s stock worth $48,000 after acquiring an additional 22 shares during the last quarter. Contravisory Investment Management Inc. lifted its stake in Ferrari by 4.6% in the second quarter. Contravisory Investment Management Inc. now owns 518 shares of the company’s stock valued at $212,000 after buying an additional 23 shares in the last quarter. First Citizens Bank & Trust Co. lifted its stake in Ferrari by 3.3% in the second quarter. First Citizens Bank & Trust Co. now owns 787 shares of the company’s stock valued at $321,000 after buying an additional 25 shares in the last quarter. Columbia Asset Management lifted its stake in Ferrari by 1.8% in the second quarter. Columbia Asset Management now owns 1,425 shares of the company’s stock valued at $582,000 after buying an additional 25 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Ferrari by 12.5% in the first quarter. EverSource Wealth Advisors LLC now owns 243 shares of the company’s stock valued at $101,000 after buying an additional 27 shares in the last quarter.

Analyst Ratings Changes

RACE has been the topic of a number of research reports. Morgan Stanley lifted their price target on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Evercore ISI lifted their price objective on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $385.00 to $525.00 in a report on Friday, October 11th. Finally, Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Ferrari currently has a consensus rating of “Moderate Buy” and an average price target of $502.14.

Ferrari Price Performance

Shares of RACE opened at $476.05 on Tuesday. The company has a market cap of $87.95 billion, a price-to-earnings ratio of 57.36, a PEG ratio of 5.05 and a beta of 0.99. Ferrari has a 1-year low of $330.15 and a 1-year high of $498.23. The company’s fifty day simple moving average is $474.01 and its 200 day simple moving average is $440.68. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01.

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.