Kestra Private Wealth Services LLC Boosts Stock Position in Ferrari (NYSE:RACE)

Kestra Private Wealth Services LLC raised its holdings in Ferrari (NYSE:RACE) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,839 shares of the company’s stock after buying an additional 205 shares during the period. Kestra Private Wealth Services LLC’s holdings in Ferrari were worth $1,206,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Hanson & Doremus Investment Management acquired a new stake in shares of Ferrari during the 4th quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Ferrari during the third quarter worth approximately $29,000. Planning Capital Management Corp purchased a new stake in shares of Ferrari during the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC acquired a new position in shares of Ferrari in the 3rd quarter valued at $33,000. Finally, Armstrong Advisory Group Inc. grew its position in shares of Ferrari by 100.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after buying an additional 50 shares during the last quarter.

Ferrari Stock Performance

Shares of RACE stock opened at $482.56 on Thursday. The stock has a 50 day simple moving average of $436.68 and a 200-day simple moving average of $450.64. The company has a market cap of $117.62 billion, a price-to-earnings ratio of 52.74, a price-to-earnings-growth ratio of 4.04 and a beta of 0.95. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 12-month low of $375.31 and a 12-month high of $498.23.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RACE shares. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Evercore ISI boosted their target price on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research note on Thursday, February 6th. They set a “hold” rating on the stock. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, UBS Group increased their price objective on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.