NorthRock Partners LLC Makes New $255,000 Investment in Ferrari (NYSE:RACE)

NorthRock Partners LLC purchased a new position in Ferrari (NYSE:RACE) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 583 shares of the company’s stock, valued at approximately $255,000.

Other large investors also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. grew its holdings in shares of Ferrari by 12.0% during the third quarter. B. Riley Wealth Advisors Inc. now owns 2,140 shares of the company’s stock worth $632,000 after buying an additional 230 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Ferrari by 1.4% in the third quarter. Vanguard Group Inc. now owns 4,441,408 shares of the company’s stock valued at $1,312,614,000 after buying an additional 61,132 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Ferrari by 12,370.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,247 shares of the company’s stock valued at $422,000 after buying an additional 1,237 shares during the last quarter. Gateway Investment Advisers LLC acquired a new stake in shares of Ferrari in the fourth quarter valued at approximately $1,907,000. Finally, Marshall Financial Group LLC lifted its position in shares of Ferrari by 5.8% in the fourth quarter. Marshall Financial Group LLC now owns 2,457 shares of the company’s stock valued at $832,000 after buying an additional 135 shares during the last quarter.

Ferrari Stock Down 1.5 %

Shares of NYSE:RACE traded down $6.42 during midday trading on Monday, reaching $428.74. The company’s stock had a trading volume of 166,612 shares, compared to its average volume of 275,452. The company has a quick ratio of 3.25, a current ratio of 4.18 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average price of $416.18 and a two-hundred day moving average price of $402.67. Ferrari has a fifty-two week low of $285.02 and a fifty-two week high of $442.80.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.08. Ferrari had a return on equity of 43.94% and a net margin of 21.42%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. As a group, equities analysts forecast that Ferrari will post 8.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RACE shares. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. UBS Group lifted their price objective on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a report on Monday, June 24th. Bank of America lifted their price objective on Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, Jefferies Financial Group began coverage on Ferrari in a report on Friday, May 10th. They issued a “hold” rating and a $403.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $461.67.

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.