1,092 Shares in Ferrari (NYSE:RACE) Purchased by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC acquired a new stake in Ferrari (NYSE:RACE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,092 shares of the company's stock, valued at approximately $464,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC acquired a new stake in shares of Ferrari during the 2nd quarter worth about $228,000. Creative Planning raised its holdings in Ferrari by 5.9% during the second quarter. Creative Planning now owns 10,959 shares of the company's stock worth $4,475,000 after purchasing an additional 606 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Ferrari by 23.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,401 shares of the company's stock worth $1,389,000 after buying an additional 639 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of Ferrari by 31.6% in the 2nd quarter. Sunbelt Securities Inc. now owns 379 shares of the company's stock valued at $155,000 after buying an additional 91 shares in the last quarter. Finally, Truist Financial Corp grew its position in shares of Ferrari by 8.2% in the 2nd quarter. Truist Financial Corp now owns 10,605 shares of the company's stock valued at $4,331,000 after buying an additional 804 shares during the last quarter.

Ferrari Stock Performance

Shares of RACE opened at $432.34 on Friday. The stock has a market capitalization of $105.38 billion, a P/E ratio of 50.21, a P/E/G ratio of 3.73 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a 1 year low of $345.92 and a 1 year high of $498.23. The company's fifty day moving average is $433.77 and its two-hundred day moving average is $448.48.

Ferrari (NYSE:RACE - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.11 by ($0.03). The firm 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 company's revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.98 earnings per share. On average, sell-side analysts predict that Ferrari will post 8.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RACE. Evercore ISI upped their price objective on shares of Ferrari from $475.00 to $565.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. UBS Group raised their price target on Ferrari from $478.00 to $513.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upgraded 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. Finally, StockNews.com lowered shares of Ferrari from a "buy" rating to a "hold" rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $507.14.

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.