Kovack Advisors Inc. Increases Stock Holdings in Ferrari (NYSE:RACE)

Kovack Advisors Inc. lifted its stake in Ferrari (NYSE:RACE) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,814 shares of the company’s stock after purchasing an additional 76 shares during the quarter. Kovack Advisors Inc.’s holdings in Ferrari were worth $614,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RACE. CWM LLC boosted its holdings in shares of Ferrari by 33.7% in the 3rd quarter. CWM LLC now owns 484 shares of the company’s stock worth $143,000 after purchasing an additional 122 shares during the period. Simplicity Solutions LLC boosted its holdings in shares of Ferrari by 2.8% in the 3rd quarter. Simplicity Solutions LLC now owns 1,411 shares of the company’s stock worth $417,000 after purchasing an additional 39 shares during the period. Ballentine Partners LLC boosted its holdings in shares of Ferrari by 3.9% in the 3rd quarter. Ballentine Partners LLC now owns 1,167 shares of the company’s stock worth $345,000 after purchasing an additional 44 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Ferrari by 2.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 3,246 shares of the company’s stock valued at $960,000 after acquiring an additional 68 shares during the period. Finally, Compagnie Lombard Odier SCmA boosted its holdings in Ferrari by 10.2% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 146,024 shares of the company’s stock valued at $43,244,000 after acquiring an additional 13,521 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RACE. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. UBS Group boosted their price objective on Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a report on Friday, February 2nd. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday. Bank of America boosted their price objective on Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, Morgan Stanley restated an “overweight” rating and set a $400.00 price objective on shares of Ferrari in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $413.86.

Ferrari Price Performance

RACE opened at $422.46 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.91 and a quick ratio of 2.98. Ferrari has a 12 month low of $273.39 and a 12 month high of $442.80. The stock has a fifty day moving average price of $420.26 and a 200-day moving average price of $371.52.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.59 by $0.15. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.61 billion. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. As a group, equities research analysts expect that Ferrari will post 8.31 earnings per share for the current year.

Ferrari Announces Dividend

The business also recently declared an annual dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be given a $2.443 dividend. This represents a dividend yield of 0.62%. The ex-dividend date of this dividend is Monday, April 22nd.

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.