Ferrari (NYSE:RACE) Shares Acquired by Paragon Advisors LLC

Paragon Advisors LLC raised its position in shares of Ferrari (NYSE:RACE) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,283 shares of the company’s stock after purchasing an additional 37 shares during the quarter. Paragon Advisors LLC’s holdings in Ferrari were worth $2,013,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in RACE. E Fund Management Hong Kong Co. Ltd. bought a new position in Ferrari in the 3rd quarter worth approximately $29,000. Planning Capital Management Corp acquired a new stake in shares of Ferrari in the third quarter valued at approximately $30,000. Rothschild Investment LLC bought a new stake in Ferrari during the 2nd quarter worth about $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Ferrari in the 3rd quarter valued at $33,000. Finally, Valley Wealth Managers Inc. bought a new position in Ferrari during the 2nd quarter worth approximately $33,000.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Evercore ISI raised their price target on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group increased their target price on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Morgan Stanley increased their target price on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $385.00 to $525.00 in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Stock Down 2.1 %

RACE stock opened at $430.99 on Friday. Ferrari has a 1 year low of $330.15 and a 1 year high of $498.23. The stock’s fifty day moving average price is $466.22 and its 200-day moving average price is $442.00. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the business earned $1.98 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities analysts anticipate that Ferrari will post 8.75 earnings per share 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.