Wesbanco Bank Inc. bought a new stake in shares of Ferrari (NYSE:RACE – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,100 shares of the company’s stock, valued at approximately $517,000.
A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Ferrari by 1.4% in the first quarter. Vanguard Group Inc. now owns 4,549,934 shares of the company’s stock valued at $1,983,498,000 after purchasing an additional 61,588 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Ferrari by 3.9% during the 1st quarter. Capital Research Global Investors now owns 1,329,714 shares of the company’s stock valued at $579,585,000 after buying an additional 49,367 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Ferrari by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 1,256,482 shares of the company’s stock worth $512,660,000 after acquiring an additional 30,014 shares during the period. Capital International Investors increased its holdings in Ferrari by 314.3% in the 1st quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock worth $454,792,000 after acquiring an additional 791,596 shares during the last quarter. Finally, Capital World Investors raised its stake in Ferrari by 34.3% in the 1st quarter. Capital World Investors now owns 962,583 shares of the company’s stock valued at $419,547,000 after acquiring an additional 245,872 shares during the period.
Ferrari Stock Performance
Shares of RACE opened at $471.98 on Thursday. Ferrari has a 12-month low of $296.34 and a 12-month high of $498.23. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01. The company has a market cap of $87.20 billion, a PE ratio of 60.28, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. The stock has a 50-day moving average price of $466.98 and a 200-day moving average price of $434.71.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the stock. UBS Group increased their target price on shares of Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Morgan Stanley raised their price objective on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $385.00 to $525.00 in a report on Friday, October 11th. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $487.86.
Read Our Latest Analysis on RACE
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.
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