Marks Group Wealth Management Inc Increases Stake in Ferrari (NYSE:RACE)

Marks Group Wealth Management Inc grew its position in Ferrari (NYSE:RACE) by 3.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,569 shares of the company’s stock after buying an additional 54 shares during the period. Marks Group Wealth Management Inc’s holdings in Ferrari were worth $738,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Jamison Private Wealth Management Inc. increased its holdings in Ferrari by 27.2% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 103 shares of the company’s stock worth $48,000 after buying an additional 22 shares in the last quarter. Contravisory Investment Management Inc. grew its stake in shares of Ferrari by 4.6% in the second quarter. Contravisory Investment Management Inc. now owns 518 shares of the company’s stock worth $212,000 after acquiring an additional 23 shares during the period. First Citizens Bank & Trust Co. raised its holdings in shares of Ferrari by 3.3% during the second quarter. First Citizens Bank & Trust Co. now owns 787 shares of the company’s stock valued at $321,000 after purchasing an additional 25 shares during the last quarter. Columbia Asset Management lifted its position in Ferrari by 1.8% during the second quarter. Columbia Asset Management now owns 1,425 shares of the company’s stock valued at $582,000 after purchasing an additional 25 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Ferrari by 12.5% in the first quarter. EverSource Wealth Advisors LLC now owns 243 shares of the company’s stock worth $101,000 after purchasing an additional 27 shares during the last quarter.

Ferrari Stock Up 0.5 %

Shares of Ferrari stock opened at $443.01 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.32 and a current ratio of 4.35. The stock’s 50-day simple moving average is $472.17 and its 200-day simple moving average is $440.93. Ferrari has a 52 week low of $330.15 and a 52 week high of $498.23.

Ferrari (NYSE:RACE) last issued its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the business posted $1.98 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, research analysts predict that Ferrari will post 8.65 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Morgan Stanley upped their price objective on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Evercore ISI lifted their price target on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. UBS Group lifted their target price on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $385.00 to $525.00 in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Ferrari currently has a consensus 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.