Ferrari (NYSE:RACE) Shares Acquired by Marcum Wealth LLC

Marcum Wealth LLC increased its position in Ferrari (NYSE:RACE) by 19.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,179 shares of the company’s stock after purchasing an additional 191 shares during the quarter. Marcum Wealth LLC’s holdings in Ferrari were worth $501,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Ferrari in the 3rd quarter valued at approximately $29,000. Planning Capital Management Corp acquired a new stake in Ferrari in the third quarter valued at $30,000. Ashton Thomas Securities LLC bought a new position in Ferrari during the 3rd quarter valued at $33,000. FSC Wealth Advisors LLC acquired a new position in Ferrari during the 3rd quarter worth $47,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Ferrari in the 3rd quarter worth about $47,000.

Ferrari Price Performance

Shares of NYSE RACE opened at $421.60 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The firm has a market capitalization of $77.89 billion, a PE ratio of 48.97, a P/E/G ratio of 4.26 and a beta of 0.95. Ferrari has a 1-year low of $330.15 and a 1-year high of $498.23. The business’s fifty day moving average price is $435.31 and its two-hundred day moving average price is $447.97.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the business earned $1.98 EPS. On average, research analysts expect that Ferrari will post 8.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. UBS Group lifted their price target on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Evercore ISI lifted their target price on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $385.00 to $525.00 in a report on Friday, October 11th. Finally, StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $507.14.

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.