Merit Financial Group LLC Makes New $356,000 Investment in Ferrari (NYSE:RACE)

Merit Financial Group LLC purchased a new stake in shares of Ferrari (NYSE:RACE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 839 shares of the company’s stock, valued at approximately $356,000.

Several other large investors have also made changes to their positions in RACE. Dimensional Fund Advisors LP grew its position in Ferrari by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 151,750 shares of the company’s stock worth $61,970,000 after acquiring an additional 30,461 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Ferrari by 32.5% during the 2nd quarter. Sei Investments Co. now owns 39,807 shares of the company’s stock worth $16,258,000 after acquiring an additional 9,775 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Ferrari by 60.9% during the second quarter. EverSource Wealth Advisors LLC now owns 391 shares of the company’s stock worth $161,000 after purchasing an additional 148 shares during the period. Insigneo Advisory Services LLC grew its holdings in Ferrari by 47.0% during the second quarter. Insigneo Advisory Services LLC now owns 798 shares of the company’s stock valued at $338,000 after purchasing an additional 255 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in shares of Ferrari by 194.4% in the second quarter. Toronto Dominion Bank now owns 6,565 shares of the company’s stock valued at $2,681,000 after purchasing an additional 4,335 shares during the period.

Ferrari Stock Up 0.5 %

RACE opened at $432.26 on Friday. The company has a market capitalization of $105.36 billion, a P/E ratio of 50.20, a P/E/G ratio of 3.70 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The firm’s fifty day moving average price is $433.70 and its two-hundred day moving average price is $448.33. Ferrari has a fifty-two week low of $330.15 and a fifty-two week high of $498.23.

Ferrari (NYSE:RACE) last posted its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.98 EPS. On average, analysts anticipate that Ferrari will post 8.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RACE. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and raised their target price for the company from $385.00 to $525.00 in a research note on Friday, October 11th. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. UBS Group upped their price target on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Evercore ISI raised their price objective on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $507.14.

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.