Janney Montgomery Scott LLC Buys 15,668 Shares of Ferrari (NYSE:RACE)

Janney Montgomery Scott LLC grew its position in Ferrari (NYSE:RACE) by 22.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,925 shares of the company’s stock after purchasing an additional 15,668 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Ferrari were worth $36,080,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of RACE. MassMutual Private Wealth & Trust FSB lifted its position in Ferrari by 10.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock worth $140,000 after acquiring an additional 30 shares during the last quarter. Ameritas Advisory Services LLC increased its stake in shares of Ferrari by 147.5% in the fourth quarter. Ameritas Advisory Services LLC now owns 1,710 shares of the company’s stock worth $727,000 after purchasing an additional 1,019 shares during the period. Arkadios Wealth Advisors bought a new stake in Ferrari during the 4th quarter valued at approximately $377,000. Merit Financial Group LLC acquired a new stake in Ferrari in the 4th quarter valued at approximately $356,000. Finally, Outlook Wealth Advisors LLC increased its position in Ferrari by 11.2% in the 4th quarter. Outlook Wealth Advisors LLC now owns 892 shares of the company’s stock worth $379,000 after buying an additional 90 shares during the period.

Ferrari Price Performance

Shares of Ferrari stock opened at $429.91 on Friday. Ferrari has a twelve month low of $330.15 and a twelve month high of $498.23. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The firm has a market cap of $104.79 billion, a P/E ratio of 49.93, a price-to-earnings-growth ratio of 3.77 and a beta of 0.95. The firm’s 50-day simple moving average is $433.91 and its 200-day simple moving average is $448.46.

Ferrari (NYSE:RACE) last issued its quarterly earnings data 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 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 firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.98 earnings per share. As a group, research analysts expect that Ferrari will post 8.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.