Ferrari (NYSE:RACE) Shares Bought by Cerity Partners LLC

Cerity Partners LLC lifted its holdings in Ferrari (NYSE:RACE - Free Report) by 14.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,915 shares of the company's stock after purchasing an additional 3,308 shares during the period. Cerity Partners LLC's holdings in Ferrari were worth $12,653,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RACE. Rothschild Investment LLC bought a new stake in Ferrari during the 2nd quarter worth approximately $29,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Ferrari during the 3rd quarter worth approximately $29,000. Planning Capital Management Corp bought a new stake in Ferrari during the 3rd quarter worth approximately $30,000. Valley Wealth Managers Inc. bought a new stake in Ferrari during the 2nd quarter worth approximately $33,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Ferrari during the third quarter valued at approximately $33,000.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. UBS Group increased their price target on Ferrari from $478.00 to $513.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upgraded shares of Ferrari from a "neutral" rating to an "overweight" rating and raised their price target for the company from $385.00 to $525.00 in a report on Friday, October 11th. Morgan Stanley boosted their price objective on shares of Ferrari from $400.00 to $520.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 27th. StockNews.com downgraded shares of Ferrari from a "buy" rating to a "hold" rating in a research note on Wednesday, October 16th. Finally, Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Ferrari has an average rating of "Moderate Buy" and a consensus target price of $507.14.

Ferrari Stock Performance

Shares of RACE traded down $4.84 during mid-day trading on Tuesday, reaching $430.40. The company had a trading volume of 152,160 shares, compared to its average volume of 281,821. Ferrari has a 52-week low of $330.15 and a 52-week high of $498.23. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $79.52 billion, a P/E ratio of 50.55, a PEG ratio of 4.07 and a beta of 0.99. The stock has a 50 day moving average of $461.73 and a two-hundred day moving average of $443.05.

Ferrari (NYSE:RACE - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing analysts' consensus estimates of $2.11 by ($0.03). The company 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 quarter in the previous year, the company earned $1.98 EPS. On average, analysts expect that Ferrari will post 8.66 earnings per share for the current year.

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.