Ferrari (NYSE:RACE) Shares Purchased by WESPAC Advisors SoCal LLC

WESPAC Advisors SoCal LLC lifted its stake in shares of Ferrari (NYSE:RACE) by 5.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,443 shares of the company’s stock after acquiring an additional 182 shares during the period. WESPAC Advisors SoCal LLC’s holdings in Ferrari were worth $1,619,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Rothschild Investment LLC purchased a new stake in shares of Ferrari during the second quarter worth approximately $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Ferrari during the 3rd quarter worth $29,000. Planning Capital Management Corp purchased a new position in shares of Ferrari during the 3rd quarter worth approximately $30,000. Valley Wealth Managers Inc. acquired a new stake in Ferrari in the second quarter valued at $33,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Ferrari during the 3rd quarter worth approximately $33,000.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. upgraded 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 report on Friday, October 11th. Morgan Stanley boosted their price objective on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. UBS Group upped their target price on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Ferrari presently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Stock Performance

RACE opened at $430.99 on Friday. The stock’s 50 day moving average price is $466.22 and its two-hundred day moving average price is $442.19. Ferrari has a 12-month low of $330.15 and a 12-month high of $498.23. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.03). The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.98 earnings per share. Sell-side analysts predict that Ferrari will post 8.75 earnings per share for the current 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.