Icon Wealth Advisors LLC Has $2.84 Million Position in Ferrari (NYSE:RACE)

Icon Wealth Advisors LLC raised its stake in Ferrari (NYSE:RACE - Free Report) by 1,403.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,043 shares of the company's stock after buying an additional 5,641 shares during the quarter. Icon Wealth Advisors LLC's holdings in Ferrari were worth $2,841,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its stake in Ferrari by 24.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,384 shares of the company's stock valued at $4,412,000 after buying an additional 1,864 shares during the period. First Horizon Advisors Inc. increased its stake in Ferrari by 6.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,824 shares of the company's stock valued at $857,000 after buying an additional 105 shares during the period. Jennison Associates LLC increased its stake in Ferrari by 910.1% in the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company's stock valued at $1,368,622,000 after buying an additional 2,636,869 shares during the period. Strategy Asset Managers LLC acquired a new position in Ferrari in the 3rd quarter valued at approximately $252,000. Finally, West Family Investments Inc. increased its stake in shares of Ferrari by 20.9% during the 3rd quarter. West Family Investments Inc. now owns 678 shares of the company's stock worth $319,000 after purchasing an additional 117 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RACE. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upgraded shares of Ferrari from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. Morgan Stanley increased their price target 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. UBS Group increased their price target on shares of Ferrari from $478.00 to $513.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Finally, Evercore ISI upped their price objective on shares of Ferrari from $475.00 to $565.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Ferrari currently has a consensus rating of "Moderate Buy" and a consensus price target of $507.14.

Ferrari Trading Up 1.9 %

RACE traded up $8.11 during midday trading on Friday, hitting $437.62. The company had a trading volume of 231,716 shares, compared to its average volume of 363,692. 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 twelve month low of $330.15 and a twelve month high of $498.23. The firm's 50-day simple moving average is $462.30 and its 200-day simple moving average is $442.31.

Ferrari (NYSE:RACE - Get Free Report) last posted 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 company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The company's revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.98 EPS. On average, analysts forecast that Ferrari will post 8.75 EPS for the current fiscal 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.