Ferrari (NYSE:RACE) Holdings Increased by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC increased its stake in Ferrari (NYSE:RACE) by 47.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 798 shares of the company’s stock after acquiring an additional 255 shares during the period. Insigneo Advisory Services LLC’s holdings in Ferrari were worth $338,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Rothschild Investment LLC bought a new position in Ferrari during the 2nd quarter valued at $29,000. Register Financial Advisors LLC acquired a new position in Ferrari during the first quarter worth about $33,000. Valley Wealth Managers Inc. bought a new stake in Ferrari in the second quarter worth about $33,000. Denver PWM LLC bought a new stake in Ferrari in the second quarter worth about $35,000. Finally, Pittenger & Anderson Inc. lifted its holdings in Ferrari by 168.6% in the 1st quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock valued at $41,000 after acquiring an additional 59 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RACE. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. Morgan Stanley lifted their price target on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. UBS Group increased their price objective on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $481.67.

Ferrari Price Performance

RACE opened at $471.69 on Friday. Ferrari has a 12-month low of $289.92 and a 12-month high of $498.23. The company has a quick ratio of 3.32, a current ratio of 4.35 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $87.14 billion, a P/E ratio of 60.24, a PEG ratio of 4.97 and a beta of 1.00. The stock has a fifty day moving average of $454.62 and a 200-day moving average of $431.59.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.08. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the business earned $1.99 EPS. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. Equities analysts forecast that Ferrari will post 8.81 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.