Simon Quick Advisors LLC Takes $315,000 Position in Ferrari (NYSE:RACE)

Simon Quick Advisors LLC bought a new stake in shares of Ferrari (NYSE:RACE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 737 shares of the company’s stock, valued at approximately $315,000.

A number of other institutional investors have also recently modified their holdings of the business. Park Square Financial Group LLC acquired a new stake in Ferrari in the 4th quarter worth about $32,000. Webster Bank N. A. acquired a new stake in Ferrari in the 1st quarter worth about $43,000. Kestra Investment Management LLC acquired a new stake in Ferrari in the 4th quarter worth about $45,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Ferrari in the 1st quarter worth about $48,000. Finally, Plato Investment Management Ltd acquired a new stake in Ferrari in the 4th quarter worth about $53,000.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. UBS Group lifted their price objective on Ferrari from $520.00 to $560.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Wall Street Zen cut Ferrari from a “buy” rating to a “hold” rating in a report on Thursday, May 15th. Kepler Capital Markets upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 28th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. Finally, JPMorgan Chase & Co. lowered 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 investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Ferrari presently has an average rating of “Moderate Buy” and an average price target of $526.25.

Ferrari Trading Down 2.2%

RACE opened at $462.31 on Friday. Ferrari has a one year low of $391.54 and a one year high of $509.13. The stock has a market capitalization of $112.05 billion, a PE ratio of 50.53, a P/E/G ratio of 4.43 and a beta of 1.10. The business’s 50 day moving average price is $466.59 and its 200 day moving average price is $452.29. 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 released its quarterly earnings data on Tuesday, May 6th. The company reported $2.42 EPS 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 analysts’ expectations of $1.82 billion. During the same period in the prior year, the firm posted $1.95 earnings per share. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, equities research analysts expect that Ferrari will post 9.22 EPS for the current 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.