Paragon Advisors LLC Buys 342 Shares of Ferrari (NYSE:RACE)

Paragon Advisors LLC grew its position in Ferrari (NYSE:RACE) by 8.0% during the fourth quarter, HoldingsChannel reports. The firm owned 4,625 shares of the company’s stock after buying an additional 342 shares during the quarter. Paragon Advisors LLC’s holdings in Ferrari were worth $1,965,000 as of its most recent filing with the Securities & Exchange Commission.

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

Ferrari Stock Down 1.0 %

Shares of RACE stock opened at $429.50 on Monday. The stock has a market cap of $79.35 billion, a P/E ratio of 49.88, a price-to-earnings-growth ratio of 4.26 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The stock has a fifty day moving average price of $436.85 and a 200 day moving average price of $447.82. Ferrari has a one year low of $330.15 and a one year high of $498.23.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 44.67% and a net margin of 22.16%. Ferrari’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.98 earnings per share. Analysts predict that Ferrari will post 8.58 earnings per share for the current year.

Wall Street Analyst Weigh In

RACE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and raised 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 research note on Wednesday, October 16th. UBS Group upped their target price on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Evercore ISI raised their price target on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.