PFG Investments LLC Has $1.66 Million Position in Ferrari (NYSE:RACE)

PFG Investments LLC trimmed its position in shares of Ferrari (NYSE:RACE) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,904 shares of the company’s stock after selling 570 shares during the quarter. PFG Investments LLC’s holdings in Ferrari were worth $1,658,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in RACE. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Ferrari in the 3rd quarter valued at about $29,000. Planning Capital Management Corp bought a new stake in Ferrari in the third quarter valued at approximately $30,000. Ashton Thomas Securities LLC acquired a new stake in Ferrari during the 3rd quarter valued at approximately $33,000. Armstrong Advisory Group Inc. raised its holdings in Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after purchasing an additional 50 shares during the last quarter. Finally, FSC Wealth Advisors LLC acquired a new position in shares of Ferrari in the 3rd quarter worth approximately $47,000.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RACE. StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. UBS Group boosted their price objective on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Evercore ISI raised their target price on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $385.00 to $525.00 in a report on Friday, October 11th. 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. Based on data from MarketBeat.com, Ferrari presently has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Trading Up 0.0 %

NYSE RACE opened at $432.40 on Tuesday. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a 52 week low of $338.73 and a 52 week high of $498.23. The business has a 50 day moving average price of $433.73 and a 200-day moving average price of $448.62. The company has a market cap of $105.40 billion, a price-to-earnings ratio of 50.22, a P/E/G ratio of 3.70 and a beta of 0.95.

Ferrari (NYSE:RACE) last released 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 business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.98 EPS. As a group, equities analysts expect that Ferrari will post 8.59 earnings per share for the current fiscal year.

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.