Wealth Enhancement Advisory Services LLC Buys 194 Shares of Ferrari (NYSE:RACE)

Wealth Enhancement Advisory Services LLC raised its position in shares of Ferrari (NYSE:RACE) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,539 shares of the company’s stock after acquiring an additional 194 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Ferrari were worth $1,194,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of RACE. E Fund Management Hong Kong Co. Ltd. purchased a new position in Ferrari during the 3rd quarter valued at $29,000. Planning Capital Management Corp bought a new stake in shares of Ferrari during the third quarter worth $30,000. Ashton Thomas Securities LLC purchased a new stake in shares of Ferrari during the third quarter valued at $33,000. FSC Wealth Advisors LLC bought a new position in shares of Ferrari in the third quarter worth about $47,000. Finally, Hobbs Group Advisors LLC purchased a new position in Ferrari in the 3rd quarter worth about $47,000.

Analyst Ratings Changes

RACE has been the subject of several research reports. StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI increased their price objective on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $385.00 to $525.00 in a research report on Friday, October 11th. Finally, UBS Group increased their price target on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Ferrari currently has a consensus rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Trading Up 2.3 %

Shares of NYSE:RACE opened at $431.74 on Thursday. The company has a market capitalization of $79.76 billion, a PE ratio of 50.14, a P/E/G ratio of 4.26 and a beta of 0.95. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 12-month low of $330.15 and a 12-month high of $498.23. The business’s fifty day simple moving average is $435.31 and its 200-day simple moving average is $447.97.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm posted $1.98 earnings per share. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities research analysts predict that Ferrari will post 8.58 earnings per share for the current fiscal 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.