Capital A Wealth Management LLC Invests $141,000 in Ferrari (NYSE:RACE)

Capital A Wealth Management LLC purchased a new position in Ferrari (NYSE:RACE) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 333 shares of the company’s stock, valued at approximately $141,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Hanson & Doremus Investment Management acquired a new position in Ferrari in the fourth quarter valued at about $26,000. Kestra Investment Management LLC bought a new position in shares of Ferrari during the 4th quarter valued at about $45,000. Plato Investment Management Ltd acquired a new position in shares of Ferrari in the 4th quarter valued at approximately $53,000. Newbridge Financial Services Group Inc. grew its position in shares of Ferrari by 705.9% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company’s stock valued at $58,000 after purchasing an additional 120 shares during the period. Finally, Pittenger & Anderson Inc. increased its stake in Ferrari by 53.2% during the 4th quarter. Pittenger & Anderson Inc. now owns 144 shares of the company’s stock worth $61,000 after purchasing an additional 50 shares in the last quarter.

Ferrari Trading Down 3.1%

NYSE:RACE opened at $476.08 on Monday. Ferrari has a twelve month low of $391.54 and a twelve month high of $509.13. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The business has a 50 day moving average price of $451.37 and a two-hundred day moving average price of $448.02. The company has a market cap of $115.39 billion, a P/E ratio of 52.03, a price-to-earnings-growth ratio of 4.43 and a beta of 1.13.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the firm posted $1.95 EPS. The business’s revenue was up 13.0% on a year-over-year basis. As a group, analysts expect that Ferrari will post 9.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. Wall Street Zen cut shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. reduced their target price on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. Finally, UBS Group boosted their price target on Ferrari from $520.00 to $560.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $526.25.

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.