Outlook Wealth Advisors LLC Buys 90 Shares of Ferrari (NYSE:RACE)

Outlook Wealth Advisors LLC increased its position in Ferrari (NYSE:RACE) by 11.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 892 shares of the company’s stock after buying an additional 90 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Ferrari were worth $379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in RACE. Oppenheimer Asset Management Inc. grew its stake in shares of Ferrari by 30.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,286 shares of the company’s stock worth $934,000 after purchasing an additional 529 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Ferrari by 25.1% during the second quarter. Dimensional Fund Advisors LP now owns 151,750 shares of the company’s stock worth $61,970,000 after acquiring an additional 30,461 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new position in shares of Ferrari in the second quarter worth approximately $229,000. Renaissance Technologies LLC boosted its holdings in Ferrari by 84.2% in the second quarter. Renaissance Technologies LLC now owns 45,348 shares of the company’s stock valued at $18,493,000 after acquiring an additional 20,733 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its position in Ferrari by 67.9% during the 2nd quarter. Mutual of America Capital Management LLC now owns 18,461 shares of the company’s stock valued at $7,536,000 after purchasing an additional 7,463 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RACE. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $385.00 to $525.00 in a research note on Friday, October 11th. UBS Group increased their price objective on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Evercore ISI lifted their price target 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, StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Price Performance

Shares of NYSE:RACE opened at $433.59 on Friday. The company’s fifty day moving average price is $435.08 and its 200-day moving average price is $447.86. Ferrari has a one year low of $330.15 and a one year high of $498.23. 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 firm has a market capitalization of $80.11 billion, a price-to-earnings ratio of 50.36, a PEG ratio of 3.68 and a beta of 0.95.

Ferrari (NYSE:RACE) last issued its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.03). The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned $1.98 EPS. On average, equities research analysts anticipate that Ferrari will post 8.59 earnings per share for the current fiscal 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.