Maven Securities LTD Invests $806,000 in Ferrari (NYSE:RACE)

Maven Securities LTD bought a new position in Ferrari (NYSE:RACE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,714 shares of the company’s stock, valued at approximately $806,000.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $385.00 to $525.00 in a report on Friday, October 11th. 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 report on Tuesday, October 22nd. UBS Group raised their price objective on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Morgan Stanley raised their price objective on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Finally, StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Trading Up 0.2 %

Shares of RACE stock opened at $445.44 on Thursday. Ferrari has a 52 week low of $330.15 and a 52 week high of $498.23. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The firm has a 50 day moving average of $456.98 and a 200-day moving average of $443.97.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). The company had revenue of $1.64 billion for 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%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business earned $1.98 EPS. Sell-side analysts predict that Ferrari will post 8.58 earnings per share 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.