LVW Advisors LLC Has $1.31 Million Stake in Ferrari (NYSE:RACE)

LVW Advisors LLC grew its position in Ferrari (NYSE:RACE) by 24.3% in the first quarter, HoldingsChannel.com reports. The fund owned 3,015 shares of the company’s stock after buying an additional 590 shares during the period. LVW Advisors LLC’s holdings in Ferrari were worth $1,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of RACE. Register Financial Advisors LLC acquired a new position in shares of Ferrari in the first quarter valued at $33,000. Jamison Private Wealth Management Inc. acquired a new position in Ferrari in the 4th quarter valued at about $27,000. Householder Group Estate & Retirement Specialist LLC lifted its position in Ferrari by 320.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock worth $35,000 after acquiring an additional 80 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Ferrari by 37.0% during the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after acquiring an additional 30 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Ferrari in the fourth quarter valued at approximately $43,000.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RACE shares. Jefferies Financial Group started coverage on shares of Ferrari in a report on Friday, May 10th. They issued a “hold” rating and a $403.00 price objective for the company. Citigroup cut shares of Ferrari from a “neutral” rating to a “sell” rating in a research report on Monday, March 4th. StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Sanford C. Bernstein lifted their price target on Ferrari from $448.00 to $512.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Finally, Bank of America lifted their target price on Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $461.67.

Ferrari Trading Down 0.3 %

NYSE:RACE opened at $408.37 on Monday. Ferrari has a twelve month low of $285.02 and a twelve month high of $442.80. The company has a fifty day moving average of $415.26 and a 200-day moving average of $396.31. The company has a current ratio of 4.18, a quick ratio of 3.25 and a debt-to-equity ratio of 0.80.

Ferrari (NYSE:RACE) last issued its earnings results on Tuesday, May 7th. The company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.04 by $0.08. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. Ferrari had a return on equity of 43.94% and a net margin of 21.42%. On average, analysts predict that Ferrari will post 8.2 earnings per share for the current fiscal year.

Ferrari Announces Dividend

The firm also recently announced an annual dividend, which was paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd were issued a $2.443 dividend. The ex-dividend date of this dividend was Monday, April 22nd. This represents a dividend yield of 0.62%.

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.