400 Shares in Ferrari (NYSE:RACE) Acquired by Future Financial Wealth Managment LLC

Future Financial Wealth Managment LLC purchased a new stake in shares of Ferrari (NYSE:RACE) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 400 shares of the company’s stock, valued at approximately $188,000.

Other institutional investors have also added to or reduced their stakes in the company. Capital International Investors raised its stake in Ferrari by 314.3% during 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 last quarter. Marshall Wace LLP increased its position in Ferrari by 108.4% in the second quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock worth $361,961,000 after buying an additional 461,409 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Ferrari by 6,024.9% during the first quarter. Clearbridge Investments LLC now owns 380,910 shares of the company’s stock valued at $166,054,000 after purchasing an additional 374,691 shares in the last quarter. Capital World Investors increased its stake in Ferrari by 34.3% in the 1st quarter. Capital World Investors now owns 962,583 shares of the company’s stock worth $419,547,000 after buying an additional 245,872 shares in the last quarter. Finally, Capital International Inc. CA lifted its holdings in Ferrari by 207.3% in the 1st 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 research firms have issued reports on RACE. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. UBS Group upped their price target on Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, Morgan Stanley lifted their price objective on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Ferrari has a consensus rating of “Moderate Buy” and an average target price of $481.67.

Ferrari Price Performance

RACE stock opened at $460.97 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.35 and a quick ratio of 3.32. Ferrari has a 1 year low of $296.34 and a 1 year high of $498.23. The firm has a market capitalization of $85.16 billion, a P/E ratio of 58.87, a P/E/G ratio of 4.77 and a beta of 0.99. The business’s 50-day moving average is $460.47 and its two-hundred day moving average is $433.27.

Ferrari (NYSE:RACE) last announced its earnings results 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 company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the business posted $1.99 EPS. The company’s revenue was up 16.1% on a year-over-year basis. Analysts anticipate that Ferrari will post 8.81 earnings per share 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.