Crews Bank & Trust Takes $281,000 Position in Ferrari (NYSE:RACE)

Crews Bank & Trust acquired a new stake in shares of Ferrari (NYSE:RACE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 662 shares of the company’s stock, valued at approximately $281,000.

Several other hedge funds have also recently made changes to their positions in RACE. Jamison Private Wealth Management Inc. lifted its position in Ferrari by 27.2% during the third quarter. Jamison Private Wealth Management Inc. now owns 103 shares of the company’s stock valued at $48,000 after purchasing an additional 22 shares during the last quarter. Elite Wealth Management Inc. lifted its position in Ferrari by 1.0% during the third quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock valued at $1,225,000 after purchasing an additional 25 shares during the last quarter. Addison Advisors LLC lifted its position in Ferrari by 13.6% during the third quarter. Addison Advisors LLC now owns 217 shares of the company’s stock valued at $102,000 after purchasing an additional 26 shares during the last quarter. Marshall Financial Group LLC lifted its position in Ferrari by 1.1% during the third quarter. Marshall Financial Group LLC now owns 2,732 shares of the company’s stock valued at $1,284,000 after purchasing an additional 30 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in Ferrari by 10.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock valued at $140,000 after purchasing an additional 30 shares during the last quarter.

Analyst Ratings Changes

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

Ferrari Trading Up 0.8 %

RACE stock opened at $432.34 on Friday. The company has a market capitalization of $105.38 billion, a PE 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 firm’s 50-day moving average is $433.77 and its 200 day moving average is $448.48. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate 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 earned $1.98 EPS. On average, research analysts anticipate that Ferrari will post 8.59 EPS for the current year.

About Ferrari

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.