Creative Planning Buys 606 Shares of Ferrari (NYSE:RACE)

Creative Planning lifted its stake in Ferrari (NYSE:RACE) by 5.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,959 shares of the company’s stock after acquiring an additional 606 shares during the period. Creative Planning’s holdings in Ferrari were worth $4,475,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Contravisory Investment Management Inc. boosted its stake in Ferrari by 4.6% during the second quarter. Contravisory Investment Management Inc. now owns 518 shares of the company’s stock valued at $212,000 after buying an additional 23 shares during the period. First Citizens Bank & Trust Co. boosted its stake in 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 buying an additional 25 shares during the period. Columbia Asset Management boosted its stake 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 buying an additional 25 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Ferrari by 12.5% during the first quarter. EverSource Wealth Advisors LLC now owns 243 shares of the company’s stock valued at $101,000 after buying an additional 27 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in Ferrari by 5.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 588 shares of the company’s stock valued at $240,000 after buying an additional 28 shares during the period.

Ferrari Stock Performance

Shares of NYSE:RACE opened at $450.09 on Friday. Ferrari has a 1 year low of $294.42 and a 1 year high of $498.23. 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 moving average is $458.99 and its 200 day moving average is $432.98.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.08. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.63 billion. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. Ferrari’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.99 EPS. On average, analysts anticipate that Ferrari will post 8.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. UBS Group lifted their price objective on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research note on Monday, June 24th. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Morgan Stanley raised their price target on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Finally, Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $481.67.

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.