WESPAC Advisors SoCal LLC Acquires 149 Shares of Ferrari (NYSE:RACE)

WESPAC Advisors SoCal LLC increased its holdings in shares of Ferrari (NYSE:RACE) by 4.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,592 shares of the company’s stock after purchasing an additional 149 shares during the quarter. WESPAC Advisors SoCal LLC’s holdings in Ferrari were worth $1,526,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of RACE. AQR Capital Management LLC acquired a new position in Ferrari during the 2nd quarter worth approximately $228,000. Truist Financial Corp boosted its position in Ferrari by 8.2% during the 2nd quarter. Truist Financial Corp now owns 10,605 shares of the company’s stock worth $4,331,000 after acquiring an additional 804 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Ferrari by 529.5% in the 3rd quarter. SG Americas Securities LLC now owns 8,561 shares of the company’s stock valued at $4,025,000 after buying an additional 7,201 shares during the last quarter. Parisi Gray Wealth Management boosted its holdings in shares of Ferrari by 17.9% in the 3rd quarter. Parisi Gray Wealth Management now owns 1,264 shares of the company’s stock valued at $592,000 after buying an additional 192 shares during the last quarter. Finally, Stonebridge Capital Management Inc. boosted its holdings in shares of Ferrari by 0.4% in the 3rd quarter. Stonebridge Capital Management Inc. now owns 13,011 shares of the company’s stock valued at $6,117,000 after buying an additional 50 shares during the last quarter.

Ferrari Stock Up 0.2 %

RACE stock opened at $429.37 on Tuesday. 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 market capitalization of $104.66 billion, a price-to-earnings ratio of 49.87, a PEG ratio of 3.72 and a beta of 0.95. The business’s fifty day moving average price is $433.65 and its two-hundred day moving average price is $448.70. Ferrari has a fifty-two week low of $368.80 and a fifty-two week high of $498.23.

Ferrari (NYSE:RACE) last posted 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 firm 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%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.98 EPS. On average, equities analysts anticipate that Ferrari will post 8.59 earnings per share for the current year.

Analyst Ratings Changes

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

Ferrari 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.