Outlook Wealth Advisors LLC Increases Holdings in Ferrari (NYSE:RACE)

Outlook Wealth Advisors LLC increased its stake in shares of Ferrari (NYSE:RACE) by 8.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 802 shares of the company’s stock after purchasing an additional 64 shares during the period. Outlook Wealth Advisors LLC’s holdings in Ferrari were worth $377,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RACE. Rothschild Investment LLC purchased a new stake in shares of Ferrari in the second quarter worth about $29,000. Register Financial Advisors LLC bought a new position in Ferrari in the 1st quarter valued at $33,000. Valley Wealth Managers Inc. purchased a new position in shares of Ferrari during the 2nd quarter valued at $33,000. Denver PWM LLC bought a new position in shares of Ferrari in the second quarter worth $35,000. Finally, Pittenger & Anderson Inc. raised its position in shares of Ferrari by 168.6% in the first quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock worth $41,000 after buying an additional 59 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Morgan Stanley upped their price objective on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. Finally, Evercore ISI raised their price objective on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $502.14.

Ferrari Price Performance

Ferrari stock opened at $484.73 on Friday. The firm has a fifty day simple moving average of $473.28 and a two-hundred day simple moving average of $437.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.35 and a quick ratio of 3.32. Ferrari has a twelve month low of $296.34 and a twelve month high of $498.23.

Ferrari (NYSE:RACE) last issued its earnings results 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 company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.99 EPS. On average, research analysts predict that Ferrari will post 8.65 earnings per share for the current fiscal year.

Ferrari 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.