Hanson & Doremus Investment Management Makes New Investment in Ferrari (NYSE:RACE)

Hanson & Doremus Investment Management bought a new position in shares of Ferrari (NYSE:RACE) during the 4th quarter, HoldingsChannel.com reports. The fund bought 62 shares of the company’s stock, valued at approximately $26,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RACE. R Squared Ltd bought a new stake in Ferrari during the fourth quarter worth $76,000. Blue Trust Inc. raised its stake in shares of Ferrari by 41.4% during the 4th quarter. Blue Trust Inc. now owns 1,220 shares of the company’s stock worth $574,000 after purchasing an additional 357 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in shares of Ferrari in the 4th quarter worth about $464,000. Linden Thomas Advisory Services LLC grew its position in Ferrari by 26.0% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 998 shares of the company’s stock valued at $424,000 after buying an additional 206 shares during the period. Finally, Fifth Third Bancorp increased its holdings in Ferrari by 9.8% during the fourth quarter. Fifth Third Bancorp now owns 393 shares of the company’s stock worth $167,000 after buying an additional 35 shares during the last quarter.

Ferrari Stock Up 0.8 %

RACE stock opened at $432.34 on Friday. The stock has a 50-day simple moving average of $433.77 and a two-hundred day simple moving average of $448.48. Ferrari has a twelve month low of $345.92 and a twelve month high of $498.23. The firm has a market capitalization of $105.38 billion, a PE ratio of 50.21, a PEG ratio of 3.70 and a beta of 0.95. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the firm posted $1.98 EPS. Ferrari’s revenue was up 6.5% on a year-over-year basis. On average, equities analysts predict that Ferrari will post 8.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RACE has been the topic of a number of research analyst reports. Evercore ISI boosted their target price on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. UBS Group boosted their target price on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

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.