180 Shares in Ferrari (NYSE:RACE) Bought by R Squared Ltd

R Squared Ltd acquired a new stake in Ferrari (NYSE:RACE) during the fourth quarter, HoldingsChannel reports. The firm acquired 180 shares of the company’s stock, valued at approximately $76,000.

A number of other institutional investors and hedge funds have also made changes to their positions in RACE. E Fund Management Hong Kong Co. Ltd. purchased a new position in Ferrari in the 3rd quarter valued at $29,000. 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 position in shares of Ferrari during the third quarter worth about $33,000. Armstrong Advisory Group Inc. raised its holdings in Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after purchasing an additional 50 shares in the last quarter. Finally, FSC Wealth Advisors LLC acquired a new stake in Ferrari in the third quarter valued at about $47,000.

Ferrari Stock Down 0.6 %

Ferrari stock opened at $429.35 on Friday. Ferrari has a fifty-two week low of $345.92 and a fifty-two week high of $498.23. The firm has a market capitalization of $104.65 billion, a price-to-earnings ratio of 49.87, a price-to-earnings-growth ratio of 3.73 and a beta of 0.95. The stock’s fifty day moving average is $433.82 and its two-hundred day moving average is $448.37. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 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 period in the previous year, the company posted $1.98 earnings per share. Ferrari’s revenue was up 6.5% on a year-over-year basis. Analysts predict that Ferrari will post 8.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RACE. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group upped their price objective on Ferrari from $478.00 to $513.00 and gave the stock 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 company from $385.00 to $525.00 in a report on Friday, October 11th. Finally, Evercore ISI upped 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 analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock 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.