Dakota Wealth Management Has $18.64 Million Stake in Ferrari (NYSE:RACE)

Dakota Wealth Management increased its stake in shares of Ferrari (NYSE:RACE) by 1.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 39,656 shares of the company’s stock after buying an additional 518 shares during the quarter. Dakota Wealth Management’s holdings in Ferrari were worth $18,643,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RACE. Rothschild Investment LLC acquired a new stake in shares of Ferrari during the 2nd quarter worth $29,000. Register Financial Advisors LLC bought a new position in Ferrari in the first quarter valued at approximately $33,000. Valley Wealth Managers Inc. acquired a new position in Ferrari during the second quarter valued at approximately $33,000. Denver PWM LLC bought a new stake in Ferrari during the second quarter worth $35,000. Finally, Pittenger & Anderson Inc. boosted its holdings in shares of Ferrari by 168.6% in 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.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RACE shares. Evercore ISI upped their price objective on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley boosted their target price 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. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and increased their price target for the company from $385.00 to $525.00 in a research note on Friday, October 11th. Finally, StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $502.14.

Ferrari Trading Up 0.8 %

NYSE RACE opened at $486.43 on Friday. Ferrari has a 12 month low of $296.34 and a 12 month high of $498.23. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01. The business’s 50-day moving average price is $472.13 and its two-hundred day moving average price is $436.82.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.08. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.63 billion. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.99 EPS. Sell-side analysts expect that Ferrari will post 8.65 earnings per share for the current year.

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.