Ycg LLC Buys 169 Shares of Ferrari (NYSE:RACE)

Ycg LLC boosted its stake in shares of Ferrari (NYSE:RACE) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,755 shares of the company’s stock after acquiring an additional 169 shares during the period. Ycg LLC’s holdings in Ferrari were worth $14,601,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new stake in shares of Ferrari during the 2nd quarter worth $29,000. IAG Wealth Partners LLC acquired a new stake in Ferrari during the first quarter worth about $33,000. Register Financial Advisors LLC acquired a new stake in Ferrari during the first quarter worth about $33,000. Denver PWM LLC bought a new position in Ferrari in the 2nd quarter valued at about $35,000. Finally, Pittenger & Anderson Inc. raised its position in shares of 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 buying an additional 59 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts recently issued reports on RACE shares. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. UBS Group lifted their price target on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research note on Monday, June 24th. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Finally, Morgan Stanley raised their price objective on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. One investment 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $481.67.

Ferrari Price Performance

RACE stock traded down $6.45 during midday trading on Friday, reaching $470.70. 287,075 shares of the stock were exchanged, compared to its average volume of 273,277. The company has a fifty day moving average price of $441.74 and a 200 day moving average price of $426.53. Ferrari has a 52 week low of $285.02 and a 52 week high of $498.23. The stock has a market capitalization of $86.96 billion, a PE ratio of 60.11, a P/E/G ratio of 5.24 and a beta of 1.00. 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 issued its quarterly earnings results on Thursday, August 1st. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.08. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.63 billion. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. Ferrari’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.99 earnings per share. As a group, analysts expect that Ferrari will post 8.71 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.