First Affirmative Financial Network Buys 90 Shares of Ferrari (NYSE:RACE)

First Affirmative Financial Network grew its stake in Ferrari (NYSE:RACE) by 14.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 695 shares of the company’s stock after acquiring an additional 90 shares during the period. First Affirmative Financial Network’s holdings in Ferrari were worth $295,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hanson & Doremus Investment Management bought a new position in shares of Ferrari during the fourth quarter valued at approximately $26,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Ferrari during the third quarter valued at approximately $29,000. Planning Capital Management Corp bought a new position in shares of Ferrari during the third quarter valued at approximately $30,000. Ashton Thomas Securities LLC bought a new position in shares of Ferrari during the third quarter valued at approximately $33,000. Finally, Armstrong Advisory Group Inc. boosted its stake in shares of Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after purchasing an additional 50 shares in the last quarter.

Ferrari Trading Up 0.8 %

NYSE RACE opened at $432.34 on Friday. The company has a fifty day simple moving average of $433.77 and a two-hundred day simple moving average of $448.48. The stock has a market cap of $105.38 billion, a P/E ratio of 50.21, a P/E/G ratio of 3.73 and a beta of 0.95. Ferrari has a 12-month low of $345.92 and a 12-month high of $498.23. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.98 EPS. On average, analysts forecast that Ferrari will post 8.59 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and increased their target price for the company from $385.00 to $525.00 in a research report on Friday, October 11th. Evercore ISI increased their target price on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, UBS Group increased their target price on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $507.14.

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.