Ferrari (NYSE:RACE) Stock Holdings Increased by Cerity Partners LLC

Cerity Partners LLC raised its holdings in shares of Ferrari (NYSE:RACE) by 14.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,915 shares of the company’s stock after buying an additional 3,308 shares during the period. Cerity Partners LLC’s holdings in Ferrari were worth $12,653,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RACE. Advisors Asset Management Inc. grew its holdings in shares of Ferrari by 2.2% in the 1st quarter. Advisors Asset Management Inc. now owns 1,442 shares of the company’s stock worth $629,000 after acquiring an additional 31 shares during the last quarter. Janus Henderson Group PLC increased its stake in Ferrari by 10.4% in the 1st quarter. Janus Henderson Group PLC now owns 77,864 shares of the company’s stock worth $34,013,000 after purchasing an additional 7,336 shares in the last quarter. Castleark Management LLC raised its holdings in Ferrari by 495.5% during the 1st quarter. Castleark Management LLC now owns 18,104 shares of the company’s stock worth $7,892,000 after buying an additional 15,064 shares during the period. SkyView Investment Advisors LLC purchased a new stake in Ferrari during the first quarter valued at about $1,341,000. Finally, Western Pacific Wealth Management LP boosted its holdings in shares of Ferrari by 989.3% in the first quarter. Western Pacific Wealth Management LP now owns 305 shares of the company’s stock worth $133,000 after buying an additional 277 shares during the period.

Ferrari Stock Down 0.5 %

Shares of Ferrari stock opened at $435.24 on Tuesday. The firm has a market cap of $80.41 billion, a price-to-earnings ratio of 50.55, a P/E/G ratio of 4.07 and a beta of 0.99. The stock has a 50-day simple moving average of $461.73 and a 200-day simple moving average of $443.05. Ferrari has a 52-week low of $330.15 and a 52-week high of $498.23. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55.

Ferrari (NYSE:RACE) last posted its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the firm earned $1.98 earnings per share. Ferrari’s revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts expect that Ferrari will post 8.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RACE shares. UBS Group boosted their price target on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $385.00 to $525.00 in a research report on Friday, October 11th. Morgan Stanley upped their price target on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI upped their target price on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $507.14.

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.