Marshall Financial Group LLC Buys 72 Shares of Ferrari (NYSE:RACE)

Marshall Financial Group LLC boosted its holdings in shares of Ferrari (NYSE:RACE) by 2.7% in the second quarter, HoldingsChannel reports. The firm owned 2,702 shares of the company’s stock after acquiring an additional 72 shares during the period. Marshall Financial Group LLC’s holdings in Ferrari were worth $1,103,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RACE. IAG Wealth Partners LLC acquired a new stake in Ferrari during the 1st quarter valued at $33,000. Register Financial Advisors LLC acquired a new stake in Ferrari during the 1st quarter valued at $33,000. Pittenger & Anderson Inc. increased its holdings in Ferrari by 168.6% during the 1st quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock valued at $41,000 after purchasing an additional 59 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Ferrari during the 4th quarter valued at $43,000. Finally, Spire Wealth Management acquired a new stake in Ferrari during the 1st quarter valued at $46,000.

Ferrari Stock Up 1.2 %

Shares of Ferrari stock traded up $5.57 during trading on Friday, reaching $459.70. 316,054 shares of the company were exchanged, compared to its average volume of 272,065. The company has a quick ratio of 3.32, a current ratio of 4.35 and a debt-to-equity ratio of 1.01. Ferrari has a twelve month low of $285.02 and a twelve month high of $463.00. The business has a 50-day moving average price of $421.79 and a 200-day moving average price of $416.02.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Thursday, August 1st. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.08. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the firm earned $1.99 earnings per share. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. On average, equities analysts predict that Ferrari will post 8.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group raised their price target on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a report on Monday, June 24th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. Morgan Stanley reissued an “overweight” rating and issued a $400.00 target price on shares of Ferrari in a research note on Monday, April 22nd. Evercore ISI lifted their target price on Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Finally, StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. One research 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. According to MarketBeat.com, Ferrari presently has a consensus rating of “Moderate Buy” and a consensus price target of $461.67.

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.