Wiser Advisor Group LLC Buys 164 Shares of Ferrari (NYSE:RACE)

Wiser Advisor Group LLC grew its position in shares of Ferrari (NYSE:RACE) by 17.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,128 shares of the company’s stock after purchasing an additional 164 shares during the period. Ferrari makes up approximately 0.8% of Wiser Advisor Group LLC’s investment portfolio, making the stock its 29th biggest position. Wiser Advisor Group LLC’s holdings in Ferrari were worth $530,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in RACE. Brown Brothers Harriman & Co. increased its position in Ferrari by 0.7% in the third quarter. Brown Brothers Harriman & Co. now owns 7,638 shares of the company’s stock worth $3,591,000 after purchasing an additional 52 shares during the last quarter. Prosperity Financial Group Inc. grew its stake in shares of Ferrari by 13.9% in the 3rd quarter. Prosperity Financial Group Inc. now owns 1,995 shares of the company’s stock worth $938,000 after buying an additional 244 shares in the last quarter. Baltimore Washington Financial Advisors Inc. increased its holdings in shares of Ferrari by 6.9% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 9,866 shares of the company’s stock worth $4,638,000 after buying an additional 634 shares during the last quarter. Cerity Partners LLC raised its position in shares of Ferrari by 14.0% during the 3rd quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock valued at $12,653,000 after buying an additional 3,308 shares in the last quarter. Finally, Icon Wealth Advisors LLC raised its position in shares of Ferrari by 1,403.2% during the 3rd quarter. Icon Wealth Advisors LLC now owns 6,043 shares of the company’s stock valued at $2,841,000 after buying an additional 5,641 shares in the last quarter.

Ferrari Stock Performance

NYSE RACE traded up $2.02 on Monday, hitting $439.64. The stock had a trading volume of 30,370 shares, compared to its average volume of 281,069. The business’s fifty day moving average price is $462.30 and its 200 day moving average price is $442.85. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. Ferrari has a 52-week low of $330.15 and a 52-week high of $498.23.

Ferrari (NYSE:RACE) last issued its quarterly 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). The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. Ferrari’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.98 EPS. Sell-side analysts anticipate that Ferrari will post 8.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. UBS Group raised their target price on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. 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. 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 research note on Friday, October 11th. Finally, Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. One 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, Ferrari currently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Company 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.