Ferrari (NYSE:RACE) Shares Acquired by Ameritas Advisory Services LLC

Ameritas Advisory Services LLC raised its holdings in shares of Ferrari (NYSE:RACE) by 147.5% during the 4th quarter, Holdings Channel reports. The fund owned 1,710 shares of the company’s stock after purchasing an additional 1,019 shares during the period. Ameritas Advisory Services LLC’s holdings in Ferrari were worth $727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of RACE. Cerity Partners LLC raised its stake in shares of Ferrari by 14.0% in the 3rd quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock worth $12,653,000 after buying an additional 3,308 shares in the last quarter. Miracle Mile Advisors LLC boosted its position in shares of Ferrari by 123.9% during the 4th quarter. Miracle Mile Advisors LLC now owns 9,005 shares of the company’s stock valued at $3,826,000 after purchasing an additional 4,983 shares in the last quarter. Rheos Capital Works Inc. grew its stake in shares of Ferrari by 30.3% in the 3rd 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 last quarter. Raymond James & Associates raised its holdings in shares of Ferrari by 1.4% in the 3rd quarter. Raymond James & Associates now owns 50,940 shares of the company’s stock worth $23,948,000 after purchasing an additional 693 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Ferrari by 60.0% during the third quarter. Franklin Resources Inc. now owns 22,055 shares of the company’s stock valued at $10,707,000 after purchasing an additional 8,267 shares during the last quarter.

Ferrari Stock Down 1.8 %

Shares of Ferrari stock opened at $432.38 on Thursday. Ferrari has a 1 year low of $330.15 and a 1 year high of $498.23. The company has a market cap of $105.39 billion, a P/E ratio of 50.22, a P/E/G ratio of 3.73 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. The stock has a 50-day moving average price of $434.05 and a 200 day moving average price of $448.58.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $385.00 to $525.00 in a research report on Friday, October 11th. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Evercore ISI upped their target price on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, UBS Group lifted their price target on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Ferrari presently has an average rating of “Moderate Buy” and an average price target of $507.14.

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.