Optas LLC Acquires New Shares in Ferrari (NYSE:RACE)

Optas LLC bought a new position in shares of Ferrari (NYSE:RACE) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 522 shares of the company’s stock, valued at approximately $222,000.

Several other large investors also recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Ferrari during the 3rd quarter worth $29,000. Hanson & Doremus Investment Management purchased a new position in Ferrari during the 4th quarter valued at about $26,000. Planning Capital Management Corp purchased a new stake in shares of Ferrari in the third quarter valued at about $30,000. Ashton Thomas Securities LLC acquired a new stake in shares of Ferrari in the third quarter valued at approximately $33,000. Finally, FSC Wealth Advisors LLC acquired a new stake in shares of Ferrari in the third quarter valued at approximately $47,000.

Analyst Ratings Changes

RACE has been the topic of a number of recent research reports. UBS Group upped their target price on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $385.00 to $525.00 in a research note on Friday, October 11th. Finally, Evercore ISI raised their price target on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Trading Up 7.1 %

NYSE RACE opened at $459.32 on Wednesday. The company has a market cap of $111.96 billion, a P/E ratio of 53.35, a P/E/G ratio of 3.72 and a beta of 0.95. Ferrari has a 12 month low of $368.80 and a 12 month 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. The company has a 50-day moving average of $433.53 and a 200-day moving average of $448.75.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). The company had revenue of $1.64 billion for 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 business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the company posted $1.98 EPS. As a group, equities analysts predict that Ferrari will post 8.59 earnings per share for the current year.

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.