Ferrari (NYSE:RACE) Shares Purchased by PFG Investments LLC

PFG Investments LLC grew its stake in shares of Ferrari (NYSE:RACE) by 22.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,620 shares of the company’s stock after acquiring an additional 833 shares during the quarter. PFG Investments LLC’s holdings in Ferrari were worth $1,886,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of RACE. Rothschild Investment LLC acquired a new position in Ferrari during the second quarter worth approximately $29,000. IAG Wealth Partners LLC purchased a new stake in shares of Ferrari during the 1st quarter valued at $33,000. Register Financial Advisors LLC acquired a new stake in shares of Ferrari during the 1st quarter worth $33,000. Denver PWM LLC purchased a new position in shares of Ferrari in the 2nd quarter worth $35,000. Finally, Pittenger & Anderson Inc. boosted its holdings in Ferrari by 168.6% in the first quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock valued at $41,000 after acquiring an additional 59 shares during the last quarter.

Ferrari Price Performance

Shares of RACE stock opened at $471.98 on Tuesday. Ferrari has a twelve month low of $285.02 and a twelve month high of $498.23. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.32 and a current ratio of 4.35. The firm has a fifty day simple moving average of $442.97 and a 200-day simple moving average of $427.12.

Ferrari (NYSE:RACE) last announced its earnings results on Thursday, August 1st. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.08. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the firm earned $1.99 earnings per share. The company’s revenue was up 16.1% on a year-over-year basis. Equities analysts expect that Ferrari will post 8.71 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. UBS Group upped their price target on Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. Morgan Stanley boosted their price objective on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Finally, StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ferrari currently has a consensus rating of “Moderate Buy” and an average target price of $481.67.

Ferrari Company 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.