Morse Asset Management Inc Has $2.11 Million Position in Ferrari (NYSE:RACE)

Morse Asset Management Inc trimmed its position in Ferrari (NYSE:RACE) by 5.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,156 shares of the company’s stock after selling 321 shares during the period. Morse Asset Management Inc’s holdings in Ferrari were worth $2,106,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Rothschild Investment LLC acquired a new position in Ferrari in the second quarter valued at about $29,000. Register Financial Advisors LLC acquired a new position in shares of Ferrari in the 1st quarter valued at approximately $33,000. Valley Wealth Managers Inc. acquired a new stake in Ferrari during the 2nd quarter worth approximately $33,000. Denver PWM LLC bought a new position in Ferrari in the second quarter valued at approximately $35,000. Finally, Pittenger & Anderson Inc. boosted its holdings in shares of Ferrari by 168.6% in the first quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock valued at $41,000 after buying an additional 59 shares during the period.

Analyst Upgrades and Downgrades

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

Ferrari Stock Down 0.7 %

RACE stock opened at $470.56 on Monday. Ferrari has a twelve month low of $285.02 and a twelve month high of $498.23. The company has a market cap of $86.94 billion, a price-to-earnings ratio of 60.10, a P/E/G ratio of 4.89 and a beta of 1.00. The company has a quick ratio of 3.32, a current ratio of 4.35 and a debt-to-equity ratio of 1.01. The business has a 50 day moving average price of $450.52 and a two-hundred day moving average price of $430.18.

Ferrari (NYSE:RACE) last issued its earnings results on Thursday, August 1st. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.08. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.63 billion. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.99 earnings per share. Analysts anticipate that Ferrari will post 8.71 EPS for the current fiscal year.

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.