Blair William & Co. IL Grows Position in Ferrari (NYSE:RACE)

Blair William & Co. IL increased its position in shares of Ferrari (NYSE:RACE) by 2.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,805 shares of the company’s stock after buying an additional 74 shares during the quarter. Blair William & Co. IL’s holdings in Ferrari were worth $1,554,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Rothschild Investment LLC purchased a new position in Ferrari during the 2nd quarter worth approximately $29,000. Register Financial Advisors LLC acquired a new stake in Ferrari during the 1st quarter worth approximately $33,000. Valley Wealth Managers Inc. acquired a new stake in Ferrari during the 2nd quarter worth approximately $33,000. Denver PWM LLC acquired a new stake in Ferrari during the 2nd quarter worth approximately $35,000. Finally, Pittenger & Anderson Inc. lifted its position in Ferrari by 168.6% during the 1st quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock worth $41,000 after acquiring an additional 59 shares during the period.

Analysts Set New Price Targets

A number of research firms have weighed in on RACE. Morgan Stanley increased their price objective on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. UBS Group increased their price objective on Ferrari from $448.00 to $478.00 and gave the stock 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. Finally, StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $481.67.

Ferrari Trading Up 1.4 %

NYSE:RACE opened at $476.96 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.32 and a current ratio of 4.35. Ferrari has a one year low of $285.02 and a one year high of $498.23. The business’s 50-day simple moving average is $451.48 and its 200 day simple moving average is $430.57. The stock has a market cap of $88.12 billion, a price-to-earnings ratio of 60.91, a price-to-earnings-growth ratio of 4.89 and a beta of 1.00.

Ferrari (NYSE:RACE) last announced its quarterly earnings data 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. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.63 billion. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. Ferrari’s quarterly revenue 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. As a group, sell-side analysts predict that Ferrari will post 8.71 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.