6,600 Shares in Ferrari (NYSE:RACE) Purchased by Telligent Fund LP

Telligent Fund LP bought a new position in shares of Ferrari (NYSE:RACE) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,600 shares of the company’s stock, valued at approximately $2,804,000. Ferrari accounts for about 2.7% of Telligent Fund LP’s holdings, making the stock its 16th largest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hanson & Doremus Investment Management bought a new position in shares of Ferrari in the fourth quarter valued at $26,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Ferrari in the third quarter worth about $29,000. Planning Capital Management Corp purchased a new position in shares of Ferrari in the third quarter worth about $30,000. Ashton Thomas Securities LLC purchased a new position in Ferrari during the third quarter valued at approximately $33,000. Finally, Armstrong Advisory Group Inc. grew its stake in Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after acquiring an additional 50 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Evercore ISI lifted their target price on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. UBS Group boosted their price objective on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a report on Thursday. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Trading Down 0.5 %

NYSE:RACE opened at $461.67 on Friday. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The company has a fifty day moving average of $434.75 and a 200 day moving average of $449.16. The firm has a market capitalization of $112.53 billion, a P/E ratio of 53.62, a P/E/G ratio of 3.72 and a beta of 0.95. Ferrari has a 52 week low of $375.31 and a 52 week high of $498.23.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the company posted $1.98 earnings per share. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, research 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.