FSC Wealth Advisors LLC Makes New Investment in Ferrari (NYSE:RACE)

FSC Wealth Advisors LLC purchased a new stake in Ferrari (NYSE:RACE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 100 shares of the company’s stock, valued at approximately $47,000.

A number of other hedge funds have also recently made changes to their positions in RACE. Capital International Investors raised its position in shares of Ferrari by 314.3% in the first quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock worth $454,792,000 after buying an additional 791,596 shares in the last quarter. Marshall Wace LLP increased its stake in Ferrari by 108.4% in the 2nd quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock worth $361,961,000 after acquiring an additional 461,409 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Ferrari by 6,024.9% in the 1st quarter. Clearbridge Investments LLC now owns 380,910 shares of the company’s stock valued at $166,054,000 after acquiring an additional 374,691 shares in the last quarter. Capital World Investors boosted its position in shares of Ferrari by 34.3% during the 1st quarter. Capital World Investors now owns 962,583 shares of the company’s stock valued at $419,547,000 after acquiring an additional 245,872 shares during the last quarter. Finally, Capital International Inc. CA grew its holdings in shares of Ferrari by 207.3% during the first quarter. Capital International Inc. CA now owns 237,277 shares of the company’s stock worth $103,419,000 after purchasing an additional 160,055 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RACE. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Morgan Stanley increased their target price on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Evercore ISI lifted their price target on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $385.00 to $525.00 in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $502.14.

Ferrari Trading Down 0.3 %

RACE opened at $478.51 on Wednesday. Ferrari has a 12 month low of $296.34 and a 12 month high of $498.23. The business’s 50-day moving average price is $471.54 and its 200-day moving average price is $436.50. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01.

Ferrari (NYSE:RACE) last announced its quarterly earnings data 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 firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the company posted $1.99 earnings per share. The business’s revenue was up 16.1% on a year-over-year basis. On average, analysts expect that Ferrari will post 8.65 EPS for the current year.

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.