Strategic Investment Solutions Inc. IL Invests $112,000 in Ferrari (NYSE:RACE)

Strategic Investment Solutions Inc. IL bought a new stake in shares of Ferrari (NYSE:RACE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 271 shares of the company’s stock, valued at approximately $112,000.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in 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 purchasing an additional 1,180 shares in the last quarter. Logan Capital Management Inc. raised its holdings in shares of Ferrari by 1.9% during the fourth quarter. Logan Capital Management Inc. now owns 4,668 shares of the company’s stock valued at $1,580,000 after acquiring an additional 87 shares during the period. Raymond James & Associates raised its holdings in shares of 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 acquiring an additional 655 shares during the period. Vanguard Group Inc. lifted its position in shares of Ferrari by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 4,488,346 shares of the company’s stock valued at $1,518,991,000 after acquiring an additional 46,938 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Ferrari by 10.5% in the 1st quarter. Jennison Associates LLC now owns 266,608 shares of the company’s stock worth $116,225,000 after purchasing an additional 25,228 shares during the period.

Analyst Ratings Changes

A number of research firms have recently issued reports on RACE. UBS Group increased their target price on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a report on Monday, June 24th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Finally, Morgan Stanley increased 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $481.67.

Ferrari Price Performance

Shares of Ferrari stock opened at $457.35 on Thursday. The stock has a 50-day simple moving average of $458.11 and a 200-day simple moving average of $432.86. Ferrari has a 52-week low of $293.49 and a 52-week 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.

Ferrari (NYSE:RACE) last posted 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 company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.63 billion. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.99 earnings per share. On average, research analysts anticipate 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.