Ferrari (NYSE:RACE) Stock Holdings Lifted by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC raised its stake in Ferrari (NYSE:RACE) by 13.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 906 shares of the company’s stock after buying an additional 108 shares during the period. Insigneo Advisory Services LLC’s holdings in Ferrari were worth $425,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of RACE. Rothschild Investment LLC bought a new position in shares of Ferrari in the second quarter valued at $29,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Ferrari in the third quarter valued at $29,000. Planning Capital Management Corp bought a new position in shares of Ferrari in the third quarter valued at $30,000. Valley Wealth Managers Inc. bought a new position in shares of Ferrari in the second quarter valued at $33,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Ferrari in the third quarter valued at $33,000.

Wall Street Analyst Weigh In

Several research firms have issued reports on RACE. Evercore ISI upped their price target on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $385.00 to $525.00 in a research note on Friday, October 11th. Morgan Stanley boosted their target price on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. UBS Group boosted their target price on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Stock Up 2.9 %

Ferrari stock opened at $458.44 on Monday. The company’s fifty day simple moving average is $456.07 and its 200-day simple moving average is $444.66. 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 has a 12 month low of $330.15 and a 12 month high of $498.23.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the firm earned $1.98 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts predict that Ferrari will post 8.58 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.