WESPAC Advisors SoCal LLC lifted its stake in shares of Ferrari (NYSE:RACE – Free Report) by 8.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,261 shares of the company’s stock after purchasing an additional 257 shares during the quarter. WESPAC Advisors SoCal LLC’s holdings in Ferrari were worth $1,332,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also made changes to their positions in RACE. IAG Wealth Partners LLC acquired a new stake in shares of Ferrari in the first quarter valued at approximately $33,000. Register Financial Advisors LLC bought a new stake in Ferrari during the 1st quarter valued at $33,000. Pittenger & Anderson Inc. grew its stake in shares of Ferrari by 168.6% in the first quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock worth $41,000 after purchasing an additional 59 shares in the last quarter. Spire Wealth Management acquired a new position in shares of Ferrari during the first quarter valued at $46,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Ferrari during the first quarter valued at about $48,000.
Ferrari Stock Down 0.4 %
Shares of NYSE RACE traded down $1.73 during trading hours on Thursday, hitting $477.06. The stock had a trading volume of 348,491 shares, compared to its average volume of 275,503. The firm’s 50-day moving average price is $426.13 and its two-hundred day moving average price is $418.48. Ferrari has a 52 week low of $285.02 and a 52 week high of $481.20. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. UBS Group lifted their price target on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research report on Monday, June 24th. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Jefferies Financial Group assumed coverage on shares of Ferrari in a research report on Friday, May 10th. They set a “hold” rating and a $403.00 price objective for the company. Finally, Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Ferrari has a consensus rating of “Moderate Buy” and an average target price of $461.67.
View Our Latest Analysis on RACE
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.
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