NorthRock Partners LLC Increases Stake in Ferrari (NYSE:RACE)

NorthRock Partners LLC grew its stake in Ferrari (NYSE:RACE) by 6.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 617 shares of the company’s stock after buying an additional 35 shares during the quarter. NorthRock Partners LLC’s holdings in Ferrari were worth $262,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hanson & Doremus Investment Management purchased a new stake in Ferrari during the fourth quarter worth approximately $26,000. Kestra Investment Management LLC purchased a new stake in Ferrari during the fourth quarter worth approximately $45,000. Plato Investment Management Ltd purchased a new stake in Ferrari during the fourth quarter worth approximately $53,000. Newbridge Financial Services Group Inc. lifted its stake in Ferrari by 705.9% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company’s stock worth $58,000 after purchasing an additional 120 shares during the last quarter. Finally, Pittenger & Anderson Inc. lifted its stake in Ferrari by 53.2% during the fourth quarter. Pittenger & Anderson Inc. now owns 144 shares of the company’s stock worth $61,000 after purchasing an additional 50 shares during the last quarter.

Ferrari Trading Up 0.8%

NYSE:RACE opened at $498.99 on Friday. The firm has a market cap of $120.94 billion, a P/E ratio of 54.53, a PEG ratio of 4.43 and a beta of 1.13. 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’s 50 day simple moving average is $447.01 and its 200-day simple moving average is $447.04. Ferrari has a 12-month low of $391.54 and a 12-month high of $509.13.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.06. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the business earned $1.95 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. Equities analysts anticipate that Ferrari will post 9.22 EPS for the current year.

Ferrari Increases Dividend

The firm also recently declared an annual dividend, which was paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd were paid a $3.1265 dividend. The ex-dividend date was Wednesday, April 23rd. This is an increase from Ferrari’s previous annual dividend of $2.44. This represents a dividend yield of 0.5%. Ferrari’s payout ratio is 5.45%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research note on Thursday, February 6th. They set a “hold” rating for the company. Kepler Capital Markets raised Ferrari from a “hold” rating to a “buy” rating in a research report on Friday, March 28th. JPMorgan Chase & Co. cut their price target on Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, March 28th. Finally, StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $526.25.

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.