Icon Wealth Advisors LLC Acquires 34 Shares of Ferrari (NYSE:RACE)

Icon Wealth Advisors LLC lifted its holdings in Ferrari (NYSE:RACE) by 8.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 436 shares of the company’s stock after purchasing an additional 34 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Ferrari were worth $205,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Jennison Associates LLC boosted its stake in shares of Ferrari by 910.1% during the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after buying an additional 2,636,869 shares during the last quarter. Legal & General Group Plc raised its holdings in Ferrari by 2.4% during the second quarter. Legal & General Group Plc now owns 1,256,482 shares of the company’s stock worth $512,660,000 after acquiring an additional 30,014 shares in the last quarter. International Assets Investment Management LLC boosted its position in Ferrari by 47,023.5% during the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock valued at $5,551,600,000 after purchasing an additional 1,178,410 shares during the last quarter. Marshall Wace LLP grew its stake in Ferrari by 108.4% in the second quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock valued at $361,961,000 after purchasing an additional 461,409 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in Ferrari by 25.8% in the second quarter. Clearbridge Investments LLC now owns 479,135 shares of the company’s stock valued at $195,664,000 after purchasing an additional 98,225 shares in the last quarter.

Ferrari Price Performance

Ferrari stock opened at $434.16 on Friday. Ferrari has a twelve month low of $330.15 and a twelve month high of $498.23. The company’s 50-day moving average price is $459.00 and its two-hundred day moving average price is $443.50. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the business posted $1.98 EPS. Ferrari’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities research analysts predict that Ferrari will post 8.58 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on RACE shares. Evercore ISI increased their price objective on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Morgan Stanley lifted their price objective on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. UBS Group raised their target price on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $385.00 to $525.00 in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ferrari currently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

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.