Perennial Investment Advisors LLC Buys 158 Shares of Ferrari (NYSE:RACE)

Perennial Investment Advisors LLC grew its stake in Ferrari (NYSE:RACE) by 18.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,038 shares of the company’s stock after purchasing an additional 158 shares during the period. Perennial Investment Advisors LLC’s holdings in Ferrari were worth $424,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Rothschild Investment LLC bought a new stake in shares of Ferrari in the 2nd quarter valued at approximately $29,000. IAG Wealth Partners LLC bought a new stake in Ferrari during the 1st quarter worth approximately $33,000. Register Financial Advisors LLC acquired a new stake in Ferrari during the 1st quarter valued at $33,000. Valley Wealth Managers Inc. acquired a new stake in Ferrari during the 2nd quarter valued at $33,000. Finally, Denver PWM LLC acquired a new stake in Ferrari during the 2nd quarter valued at $35,000.

Ferrari Stock Down 0.2 %

Shares of RACE opened at $462.86 on Wednesday. The firm has a market capitalization of $85.51 billion, a price-to-earnings ratio of 59.11, a PEG ratio of 4.98 and a beta of 1.00. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.32 and a current ratio of 4.35. The business’s fifty day moving average price is $448.45 and its two-hundred day moving average price is $429.05. Ferrari has a 52 week low of $285.02 and a 52 week high of $498.23.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Thursday, August 1st. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.08. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.63 billion. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the company earned $1.99 EPS. On average, analysts predict that Ferrari will post 8.71 earnings per share for the current year.

Analyst Ratings Changes

RACE has been the subject of a number of recent analyst reports. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. Morgan Stanley raised their price target on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Finally, UBS Group raised their price target on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Ferrari currently has a consensus rating of “Moderate Buy” and an average price target of $481.67.

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.