SeaCrest Wealth Management LLC Buys 141 Shares of Ferrari (NYSE:RACE)

SeaCrest Wealth Management LLC boosted its holdings in shares of Ferrari (NYSE:RACE) by 4.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,224 shares of the company’s stock after purchasing an additional 141 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Ferrari were worth $1,379,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new position in Ferrari during the 4th quarter valued at approximately $32,000. Webster Bank N. A. purchased a new position in Ferrari during the 1st quarter valued at $43,000. Kestra Investment Management LLC purchased a new position in Ferrari during the 4th quarter valued at $45,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Ferrari during the 1st quarter valued at $48,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of Ferrari in the 4th quarter worth $53,000.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RACE shares. JPMorgan Chase & Co. lowered their target price on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. UBS Group upped their target price on Ferrari from $520.00 to $560.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Kepler Capital Markets raised Ferrari from a “hold” rating to a “buy” rating in a research report on Friday, March 28th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, March 28th. Finally, Wall Street Zen downgraded Ferrari from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $526.25.

Ferrari Stock Performance

Shares of RACE stock opened at $482.71 on Friday. The company has a market capitalization of $117.00 billion, a P/E ratio of 52.75, a P/E/G ratio of 4.43 and a beta of 1.10. The business’s 50 day moving average is $460.56 and its two-hundred day moving average is $450.62. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 12-month low of $391.54 and a 12-month high of $509.13.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) 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 company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the business posted $1.95 earnings per share. Ferrari’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts expect that Ferrari will post 9.22 EPS for the current fiscal year.

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.