WESPAC Advisors SoCal LLC Purchases 149 Shares of Ferrari (NYSE:RACE)

WESPAC Advisors SoCal LLC increased its stake in Ferrari (NYSE:RACE) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,592 shares of the company’s stock after purchasing an additional 149 shares during the period. WESPAC Advisors SoCal LLC’s holdings in Ferrari were worth $1,526,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Cerity Partners LLC increased its position in shares of Ferrari by 14.0% in the third quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock worth $12,653,000 after purchasing an additional 3,308 shares during the period. Miracle Mile Advisors LLC increased its position in shares of Ferrari by 123.9% in the fourth quarter. Miracle Mile Advisors LLC now owns 9,005 shares of the company’s stock worth $3,826,000 after purchasing an additional 4,983 shares during the period. Rheos Capital Works Inc. increased its position in shares of Ferrari by 30.3% in the third quarter. Rheos Capital Works Inc. now owns 111,700 shares of the company’s stock worth $52,511,000 after purchasing an additional 26,000 shares during the period. Mediolanum International Funds Ltd increased its position in shares of Ferrari by 24.7% in the fourth quarter. Mediolanum International Funds Ltd now owns 9,071 shares of the company’s stock worth $3,874,000 after purchasing an additional 1,796 shares during the period. Finally, Raymond James & Associates increased its position in shares of Ferrari by 1.4% in the third quarter. Raymond James & Associates now owns 50,940 shares of the company’s stock worth $23,948,000 after purchasing an additional 693 shares during the period.

Ferrari Stock Performance

Shares of RACE stock opened at $429.37 on Tuesday. The business’s 50-day moving average price is $433.65 and its 200-day moving average price is $448.70. Ferrari has a 12 month low of $368.80 and a 12 month high of $498.23. The firm has a market capitalization of $104.66 billion, a price-to-earnings ratio of 49.87, a PEG ratio of 3.72 and a beta of 0.95. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the business posted $1.98 earnings per share. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts forecast that Ferrari will post 8.59 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Evercore ISI raised their price target on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. UBS Group raised their price objective on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $385.00 to $525.00 in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

About Ferrari

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.