773 Shares in Ferrari (NYSE:RACE) Bought by Aljian Capital Management LLC

Aljian Capital Management LLC purchased a new stake in Ferrari (NYSE:RACE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 773 shares of the company’s stock, valued at approximately $363,000.

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

Ferrari Price Performance

RACE stock opened at $430.99 on Monday. Ferrari has a 12-month low of $330.15 and a 12-month high of $498.23. The stock’s 50 day simple moving average is $466.22 and its 200 day simple moving average is $442.37. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.03). The business had revenue of $1.64 billion for 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 quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.98 earnings per share. Research analysts expect that Ferrari will post 8.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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