Ferrari (NYSE:RACE) Shares Acquired by Jamison Private Wealth Management Inc.

Jamison Private Wealth Management Inc. boosted its position in shares of Ferrari (NYSE:RACE) by 27.2% in the third quarter, Holdings Channel.com reports. The firm owned 103 shares of the company’s stock after acquiring an additional 22 shares during the period. Jamison Private Wealth Management Inc.’s holdings in Ferrari were worth $48,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors boosted its holdings in Ferrari by 314.3% in the first quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock valued at $454,792,000 after purchasing an additional 791,596 shares during the last quarter. Marshall Wace LLP raised its position in shares of Ferrari by 108.4% in the 2nd quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock valued at $361,961,000 after purchasing an additional 461,409 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Ferrari by 6,024.9% during the 1st quarter. Clearbridge Investments LLC now owns 380,910 shares of the company’s stock valued at $166,054,000 after buying an additional 374,691 shares during the last quarter. Capital World Investors grew its position in shares of Ferrari by 34.3% during the first quarter. Capital World Investors now owns 962,583 shares of the company’s stock worth $419,547,000 after buying an additional 245,872 shares in the last quarter. Finally, Capital International Inc. CA increased its stake in shares of Ferrari by 207.3% in the first quarter. Capital International Inc. CA now owns 237,277 shares of the company’s stock worth $103,419,000 after buying an additional 160,055 shares during the last quarter.

Analysts Set New Price Targets

RACE has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. Morgan Stanley upped their price objective on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. UBS Group increased their target price on Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $385.00 to $525.00 in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $487.86.

Ferrari Trading Up 0.3 %

Shares of NYSE RACE opened at $471.98 on Thursday. Ferrari has a 12-month low of $296.34 and a 12-month high of $498.23. The company has a market cap of $87.20 billion, a price-to-earnings ratio of 60.28, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01. The stock’s 50 day simple moving average is $466.98 and its 200 day simple moving average is $434.71.

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 the consensus estimate of $2.21 by $0.08. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the company posted $1.99 earnings per share. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. Equities research analysts expect that Ferrari will post 8.81 EPS for the current year.

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.