Valeo Financial Advisors LLC Purchases 137 Shares of Ferrari (NYSE:RACE)

Valeo Financial Advisors LLC boosted its holdings in shares of Ferrari (NYSE:RACE) by 14.3% in the 3rd quarter, Holdings Channel reports. The firm owned 1,098 shares of the company’s stock after buying an additional 137 shares during the period. Valeo Financial Advisors LLC’s holdings in Ferrari were worth $516,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Syon Capital LLC grew its holdings in shares of Ferrari by 54.2% during the 4th quarter. Syon Capital LLC now owns 1,070 shares of the company’s stock valued at $362,000 after purchasing an additional 376 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Ferrari by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 4,488,346 shares of the company’s stock worth $1,518,991,000 after buying an additional 46,938 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of Ferrari by 13.1% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 2,420 shares of the company’s stock valued at $819,000 after acquiring an additional 280 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Ferrari by 3.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 15,585 shares of the company’s stock valued at $5,275,000 after acquiring an additional 456 shares in the last quarter. Finally, HighPoint Advisor Group LLC bought a new stake in Ferrari during the 4th quarter worth $330,000.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RACE shares. UBS Group increased their target price on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research report on Monday, June 24th. JPMorgan Chase & Co. upgraded shares of 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 report on Friday. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley lifted their price target on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $487.86.

Ferrari Trading Up 2.2 %

NYSE:RACE opened at $479.23 on Tuesday. Ferrari has a 52 week low of $296.34 and a 52 week high of $498.23. The firm’s fifty day moving average is $464.83 and its 200-day moving average is $434.20. The firm has a market cap of $88.54 billion, a P/E ratio of 61.20, a P/E/G ratio of 4.76 and a beta of 0.99. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.32 and a current ratio of 4.35.

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

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.