Ferrari (NYSE:RACE) Stock Holdings Lifted by Parisi Gray Wealth Management

Parisi Gray Wealth Management grew its position in Ferrari (NYSE:RACE) by 4.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,316 shares of the company’s stock after acquiring an additional 52 shares during the quarter. Parisi Gray Wealth Management’s holdings in Ferrari were worth $562,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RACE. E Fund Management Hong Kong Co. Ltd. bought a new position in Ferrari during the third quarter valued at about $29,000. Planning Capital Management Corp bought a new stake in Ferrari during the third quarter worth approximately $30,000. Ashton Thomas Securities LLC bought a new stake in Ferrari during the third quarter worth approximately $33,000. FSC Wealth Advisors LLC acquired a new position in Ferrari in the 3rd quarter valued at $47,000. Finally, Hobbs Group Advisors LLC bought a new stake in Ferrari during the third quarter valued at about $47,000.

Analyst Upgrades and Downgrades

RACE has been the topic of a number of recent analyst reports. Evercore ISI lifted their price objective on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group raised their price objective on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $385.00 to $525.00 in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Price Performance

NYSE RACE traded down $10.98 on Monday, reaching $418.31. The company’s stock had a trading volume of 292,348 shares, compared to its average volume of 239,493. Ferrari has a 52 week low of $330.15 and a 52 week high of $498.23. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The firm has a market cap of $77.28 billion, a PE ratio of 48.58, a price-to-earnings-growth ratio of 4.26 and a beta of 0.95. The business has a 50-day moving average price of $436.85 and a 200 day moving average price of $447.82.

Ferrari (NYSE:RACE) last released its quarterly earnings data 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 company had revenue of $1.64 billion during 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 company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.98 earnings per share. Sell-side analysts expect that Ferrari will post 8.58 EPS 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.