Future Financial Wealth Managment LLC Takes $174,000 Position in Ferrari (NYSE:RACE)

Future Financial Wealth Managment LLC purchased a new stake in shares of Ferrari (NYSE:RACE) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 400 shares of the company’s stock, valued at approximately $174,000.

Other institutional investors also recently modified their holdings of the company. Sunbelt Securities Inc. lifted its holdings in Ferrari by 97.3% during the 1st quarter. Sunbelt Securities Inc. now owns 288 shares of the company’s stock worth $126,000 after buying an additional 142 shares during the period. Ballentine Partners LLC raised its position in shares of Ferrari by 5.7% during the first quarter. Ballentine Partners LLC now owns 1,431 shares of the company’s stock worth $624,000 after purchasing an additional 77 shares during the period. Opal Wealth Advisors LLC acquired a new position in Ferrari during the first quarter worth $244,000. International Assets Investment Management LLC lifted its position in Ferrari by 104.1% in the 1st quarter. International Assets Investment Management LLC now owns 2,892 shares of the company’s stock valued at $1,249,000 after acquiring an additional 1,475 shares in the last quarter. Finally, Marcum Wealth LLC purchased a new position in shares of Ferrari during the first quarter valued at approximately $324,000.

Ferrari Stock Down 0.7 %

Ferrari stock opened at $409.46 on Friday. The firm has a 50-day moving average of $415.32 and a 200-day moving average of $395.60. The company has a current ratio of 4.18, a quick ratio of 3.25 and a debt-to-equity ratio of 0.80. Ferrari has a 1-year low of $285.02 and a 1-year high of $442.80.

Ferrari (NYSE:RACE) last released its earnings results on Tuesday, May 7th. The company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.08. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Ferrari had a return on equity of 43.94% and a net margin of 21.42%. On average, equities analysts expect that Ferrari will post 8.2 earnings per share for the current fiscal year.

Ferrari Dividend Announcement

The business also recently declared an annual dividend, which was paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd were paid a $2.443 dividend. The ex-dividend date of this dividend was Monday, April 22nd. This represents a dividend yield of 0.62%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RACE. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. Bank of America increased their target price on Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Morgan Stanley reiterated an “overweight” rating and set a $400.00 price target on shares of Ferrari in a research report on Monday, April 22nd. Finally, UBS Group increased their price objective on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $461.67.

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.