Marks Group Wealth Management Inc Purchases 54 Shares of Ferrari (NYSE:RACE)

Marks Group Wealth Management Inc grew its position in shares of Ferrari (NYSE:RACE) by 3.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,569 shares of the company’s stock after purchasing an additional 54 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Ferrari were worth $738,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in RACE. Rothschild Investment LLC bought a new position in shares of Ferrari during the second quarter valued at about $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Ferrari in the third quarter worth $29,000. Valley Wealth Managers Inc. bought a new stake in Ferrari during the 2nd quarter valued at $33,000. Denver PWM LLC bought a new stake in Ferrari in the 2nd quarter worth $35,000. Finally, FSC Wealth Advisors LLC purchased a new position in shares of Ferrari in the third quarter valued at about $47,000.

Ferrari Price Performance

Shares of Ferrari stock opened at $443.01 on Thursday. Ferrari has a 1 year low of $330.15 and a 1 year high of $498.23. The company has a 50-day moving average of $472.17 and a 200 day moving average of $440.93. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the business posted $1.98 EPS. Ferrari’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, analysts anticipate that Ferrari will post 8.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RACE shares. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $385.00 to $525.00 in a report on Friday, October 11th. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Morgan Stanley raised their price target on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Evercore ISI boosted their price objective on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Ferrari currently has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

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.