Sanctuary Advisors LLC Purchases 1,623 Shares of Ferrari (NYSE:RACE)

Sanctuary Advisors LLC raised its position in shares of Ferrari (NYSE:RACE) by 13.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,921 shares of the company’s stock after buying an additional 1,623 shares during the period. Sanctuary Advisors LLC’s holdings in Ferrari were worth $6,062,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Rothschild Investment LLC purchased a new stake in shares of Ferrari during the second quarter worth about $29,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Ferrari during the 3rd quarter valued at approximately $29,000. Planning Capital Management Corp purchased a new stake in Ferrari in the 3rd quarter worth approximately $30,000. Valley Wealth Managers Inc. bought a new stake in shares of Ferrari in the 2nd quarter worth approximately $33,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Ferrari during the third quarter valued at approximately $33,000.

Ferrari Trading Up 0.5 %

NYSE:RACE opened at $454.18 on Friday. Ferrari has a one year low of $330.15 and a one year high of $498.23. The company’s 50-day simple moving average is $455.46 and its 200 day simple moving average is $445.70. 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 issued its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 EPS 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 company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the firm earned $1.98 earnings per share. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities analysts anticipate that Ferrari will post 8.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on RACE. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. UBS Group lifted 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. Evercore ISI boosted their price target on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley upped their target price on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Ferrari presently has an average rating of “Moderate Buy” and an average target price of $507.14.

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.