Prime Capital Investment Advisors LLC Grows Position in Ferrari (NYSE:RACE)

Prime Capital Investment Advisors LLC boosted its position in shares of Ferrari (NYSE:RACE) by 23.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,176 shares of the company’s stock after acquiring an additional 227 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Ferrari were worth $398,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in Ferrari by 37.0% during the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after acquiring an additional 30 shares during the period. Merlin Capital Inc boosted its holdings in Ferrari by 1.3% during the 3rd quarter. Merlin Capital Inc now owns 2,496 shares of the company’s stock valued at $738,000 after acquiring an additional 32 shares during the period. Allworth Financial LP boosted its holdings in Ferrari by 17.0% during the 4th quarter. Allworth Financial LP now owns 255 shares of the company’s stock valued at $86,000 after acquiring an additional 37 shares during the period. Simplicity Solutions LLC boosted its holdings in Ferrari by 2.8% during the 3rd quarter. Simplicity Solutions LLC now owns 1,411 shares of the company’s stock valued at $417,000 after acquiring an additional 39 shares during the period. Finally, Stratos Wealth Partners LTD. boosted its holdings in Ferrari by 1.8% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 2,217 shares of the company’s stock valued at $655,000 after acquiring an additional 39 shares during the period.

Ferrari Stock Performance

Shares of NYSE RACE opened at $420.38 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.91 and a quick ratio of 2.98. Ferrari has a fifty-two week low of $272.70 and a fifty-two week high of $442.80. The stock’s 50-day simple moving average is $413.32 and its 200-day simple moving average is $361.95.

Ferrari (NYSE:RACE) last issued its earnings results on Thursday, February 1st. The company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.15. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.61 billion. Equities research analysts forecast that Ferrari will post 8.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RACE shares. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. Citigroup lowered Ferrari from a “neutral” rating to a “sell” rating in a research report on Monday, March 4th. UBS Group increased their price target on Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. Finally, Bank of America increased their price target on Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Ferrari presently has an average rating of “Hold” and a consensus price target of $363.57.

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.