464 Shares in Ferrari (NYSE:RACE) Purchased by Mill Creek Capital Advisors LLC

Mill Creek Capital Advisors LLC purchased a new position in Ferrari (NYSE:RACE) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 464 shares of the company’s stock, valued at approximately $218,000.

Other institutional investors have also recently bought and sold shares of the company. Rothschild Investment LLC purchased a new position in Ferrari in the 2nd quarter worth about $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Ferrari in the 3rd quarter valued at about $29,000. Planning Capital Management Corp acquired a new position in shares of Ferrari in the 3rd quarter valued at about $30,000. Valley Wealth Managers Inc. purchased a new stake in shares of Ferrari in the second quarter worth approximately $33,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Ferrari during the third quarter worth approximately $33,000.

Analyst Ratings Changes

RACE has been the topic of several research reports. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. UBS Group increased their price objective on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Evercore ISI lifted their price objective on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley lifted their price target on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Stock Down 2.1 %

RACE opened at $430.99 on Monday. The business has a 50 day moving average price of $466.22 and a 200 day moving average price of $442.37. Ferrari has a twelve month low of $330.15 and a twelve month high of $498.23. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57.

Ferrari (NYSE:RACE) last posted its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the firm posted $1.98 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Research analysts forecast that Ferrari will post 8.75 EPS for the current 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.