Wealth Alliance Has $546,000 Stock Holdings in Ferrari (NYSE:RACE)

Wealth Alliance grew its stake in Ferrari (NYSE:RACE) by 4.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,336 shares of the company’s stock after buying an additional 62 shares during the period. Wealth Alliance’s holdings in Ferrari were worth $546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Ferrari by 1.4% in the first quarter. Vanguard Group Inc. now owns 4,549,934 shares of the company’s stock valued at $1,983,498,000 after buying an additional 61,588 shares during the period. Capital Research Global Investors increased its stake in shares of Ferrari by 3.9% in the first quarter. Capital Research Global Investors now owns 1,329,714 shares of the company’s stock valued at $579,585,000 after buying an additional 49,367 shares during the period. Capital International Investors increased its stake 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 valued at $454,792,000 after buying an additional 791,596 shares during the period. Capital World Investors increased its stake in shares of Ferrari by 34.3% in the first quarter. Capital World Investors now owns 962,583 shares of the company’s stock valued at $419,547,000 after buying an additional 245,872 shares during the period. Finally, Banco Santander S.A. boosted its position in shares of Ferrari by 14.5% during the 1st quarter. Banco Santander S.A. now owns 630,082 shares of the company’s stock valued at $274,678,000 after purchasing an additional 79,734 shares in the last quarter.

Ferrari Stock Performance

Shares of Ferrari stock opened at $457.81 on Thursday. The company has a market cap of $84.58 billion, a PE ratio of 58.47, a price-to-earnings-growth ratio of 4.98 and a beta of 1.00. Ferrari has a 52 week low of $285.02 and a 52 week high of $498.23. The business has a 50 day moving average price of $448.90 and a 200-day moving average price of $429.25. The company has a quick ratio of 3.32, a current ratio of 4.35 and a debt-to-equity ratio of 1.01.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Thursday, August 1st. The company reported $2.29 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 the consensus estimate of $1.63 billion. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.99 earnings per share. Equities analysts anticipate that Ferrari will post 8.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. UBS Group upped their target price on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Morgan Stanley increased their price target on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Finally, StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Ferrari currently has a consensus rating of “Moderate Buy” and a consensus target price of $481.67.

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.