Ferrari (NYSE:RACE) Stock Holdings Raised by Good Life Advisors LLC

Good Life Advisors LLC lifted its stake in shares of Ferrari (NYSE:RACE) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,097 shares of the company’s stock after purchasing an additional 34 shares during the period. Good Life Advisors LLC’s holdings in Ferrari were worth $516,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. grew its position in shares of Ferrari by 3,806.5% in the 2nd quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock worth $528,000 after acquiring an additional 1,180 shares in the last quarter. Raymond James & Associates increased its stake in Ferrari by 1.3% during the second quarter. Raymond James & Associates now owns 50,247 shares of the company’s stock valued at $20,519,000 after purchasing an additional 655 shares during the last quarter. Jennison Associates LLC increased its stake in Ferrari by 10.5% during the first quarter. Jennison Associates LLC now owns 266,608 shares of the company’s stock valued at $116,225,000 after purchasing an additional 25,228 shares during the last quarter. Capital Wealth Planning LLC lifted its position in shares of Ferrari by 127.6% in the 1st quarter. Capital Wealth Planning LLC now owns 7,511 shares of the company’s stock worth $3,274,000 after buying an additional 4,211 shares during the last quarter. Finally, Gateway Investment Advisers LLC lifted its position in shares of Ferrari by 46.7% in the 2nd quarter. Gateway Investment Advisers LLC now owns 6,864 shares of the company’s stock worth $2,803,000 after buying an additional 2,185 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have issued reports on RACE. StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday. UBS Group upped their price objective on Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Morgan Stanley raised their target price on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $385.00 to $525.00 in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $487.86.

Ferrari Stock Performance

Ferrari stock opened at $482.35 on Friday. Ferrari has a 52 week low of $296.34 and a 52 week high of $498.23. The company’s 50-day moving average price is $469.46 and its two-hundred day moving average price is $435.39. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.35 and a quick ratio of 3.32.

Ferrari (NYSE:RACE) last announced its earnings results on Thursday, August 1st. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.21 by $0.08. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.99 earnings per share. As a group, analysts expect that Ferrari will post 8.81 EPS for the current fiscal year.

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.