Farther Finance Advisors LLC Buys 74 Shares of Ferrari (NYSE:RACE)

Farther Finance Advisors LLC grew its position in Ferrari (NYSE:RACE) by 9.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 839 shares of the company’s stock after acquiring an additional 74 shares during the period. Farther Finance Advisors LLC’s holdings in Ferrari were worth $361,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Park Square Financial Group LLC bought a new stake in shares of Ferrari during the fourth quarter worth about $32,000. Webster Bank N. A. acquired a new stake in Ferrari during the 1st quarter worth approximately $43,000. Kestra Investment Management LLC acquired a new stake in Ferrari during the 4th quarter worth approximately $45,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Ferrari during the 1st quarter worth approximately $48,000. Finally, Plato Investment Management Ltd acquired a new position in Ferrari in the 4th quarter valued at approximately $53,000.

Ferrari Stock Performance

RACE stock opened at $464.99 on Tuesday. The firm has a market cap of $112.70 billion, a PE ratio of 50.82, a price-to-earnings-growth ratio of 4.43 and a beta of 1.10. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average price of $467.92 and a 200-day moving average price of $452.65. Ferrari has a 1-year low of $391.54 and a 1-year high of $509.13.

Ferrari (NYSE:RACE) last issued its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.06. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.82 billion. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.95 earnings per share. As a group, equities research analysts expect that Ferrari will post 9.22 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on RACE. Kepler Capital Markets upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 28th. Wall Street Zen downgraded Ferrari from a “buy” rating to a “hold” rating in a report on Thursday, May 15th. UBS Group upped their price target on Ferrari from $520.00 to $560.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. lowered their price objective on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Finally, Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Ferrari has an average rating of “Moderate Buy” and a consensus price target of $526.25.

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.