Ferrari (NYSE:RACE) Shares Bought by Outlook Wealth Advisors LLC

Outlook Wealth Advisors LLC lifted its stake in shares of Ferrari (NYSE:RACE) by 25.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 815 shares of the company’s stock after purchasing an additional 167 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Ferrari were worth $355,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Register Financial Advisors LLC bought a new stake in shares of Ferrari during the 1st quarter worth about $33,000. Jamison Private Wealth Management Inc. bought a new stake in Ferrari during the fourth quarter worth approximately $27,000. Householder Group Estate & Retirement Specialist LLC lifted its position in Ferrari by 320.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock worth $35,000 after purchasing an additional 80 shares during the period. Blue Trust Inc. boosted its stake in Ferrari by 37.0% during the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after purchasing an additional 30 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Ferrari during the 4th quarter valued at $43,000.

Ferrari Trading Up 2.5 %

NYSE RACE traded up $10.25 during trading on Friday, reaching $422.46. The company’s stock had a trading volume of 217,590 shares, compared to its average volume of 246,668. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.91 and a quick ratio of 2.98. Ferrari has a 1-year low of $273.39 and a 1-year high of $442.80. The business has a 50-day moving average price of $420.26 and a 200-day moving average price of $371.06.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.15. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.61 billion. Ferrari had a net margin of 21.06% and a return on equity of 43.84%. As a group, sell-side analysts expect that Ferrari will post 8.31 EPS for the current year.

Ferrari Dividend Announcement

The business also recently declared an annual dividend, which will be paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd will be issued a dividend of $2.443 per share. The ex-dividend date of this dividend is Monday, April 22nd. This represents a yield of 0.62%.

Analysts Set New Price Targets

RACE has been the subject of several recent research reports. UBS Group increased their target price on shares of Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley reiterated an “overweight” rating and issued a $400.00 price target on shares of Ferrari in a research report on Monday, April 22nd. Citigroup lowered shares of Ferrari from a “neutral” rating to a “sell” rating in a research note on Monday, March 4th. Finally, Bank of America lifted their target price on shares of Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $413.86.

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.