Webster Bank N. A. Invests $43,000 in Ferrari (NYSE:RACE)

Webster Bank N. A. acquired a new position in Ferrari (NYSE:RACE) during the first quarter, according to its most recent filing with the SEC. The firm acquired 100 shares of the company’s stock, valued at approximately $43,000.

Other large investors have also recently made changes to their positions in the company. HBK Sorce Advisory LLC boosted its position in shares of Ferrari by 3.6% during the fourth quarter. HBK Sorce Advisory LLC now owns 626 shares of the company’s stock valued at $266,000 after purchasing an additional 22 shares in the last quarter. Citizens Financial Group Inc. RI boosted its position in shares of Ferrari by 4.4% during the fourth quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock valued at $251,000 after purchasing an additional 25 shares in the last quarter. Garde Capital Inc. boosted its position in shares of Ferrari by 5.0% during the fourth quarter. Garde Capital Inc. now owns 525 shares of the company’s stock valued at $223,000 after purchasing an additional 25 shares in the last quarter. PDS Planning Inc boosted its position in shares of Ferrari by 4.8% during the fourth quarter. PDS Planning Inc now owns 589 shares of the company’s stock valued at $250,000 after purchasing an additional 27 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Ferrari by 9.8% during the fourth quarter. Fifth Third Bancorp now owns 393 shares of the company’s stock valued at $167,000 after purchasing an additional 35 shares in the last quarter.

Ferrari Stock Up 0.0%

RACE stock opened at $479.17 on Friday. Ferrari has a 1-year low of $391.54 and a 1-year high of $509.13. The business has a fifty day moving average price of $455.16 and a 200-day moving average price of $449.06. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The stock has a market capitalization of $116.14 billion, a P/E ratio of 52.37, a P/E/G ratio of 4.43 and a beta of 1.13.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the business earned $1.95 earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. Equities analysts forecast that Ferrari will post 9.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RACE has been the topic of several analyst reports. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a report on Thursday, February 6th. They issued a “hold” rating on the stock. Wall Street Zen downgraded Ferrari from a “buy” rating to a “hold” rating in a report on Thursday, May 15th. Kepler Capital Markets raised Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 28th. Finally, JPMorgan Chase & Co. dropped their target price on Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Ferrari currently has a consensus rating of “Moderate Buy” and an average target price of $526.25.

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.