Ferrari (NYSE:RACE) Shares Purchased by Baltimore Washington Financial Advisors Inc.

Baltimore Washington Financial Advisors Inc. raised its holdings in shares of Ferrari (NYSE:RACE) by 6.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,866 shares of the company’s stock after purchasing an additional 634 shares during the quarter. Baltimore Washington Financial Advisors Inc.’s holdings in Ferrari were worth $4,638,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of RACE. Rothschild Investment LLC bought a new position in Ferrari during the 2nd quarter worth approximately $29,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Ferrari during the 3rd quarter worth approximately $29,000. Planning Capital Management Corp bought a new position in Ferrari during the 3rd quarter worth approximately $30,000. Valley Wealth Managers Inc. bought a new position in Ferrari during the 2nd quarter worth approximately $33,000. Finally, Ashton Thomas Securities LLC bought a new position in Ferrari during the 3rd quarter worth approximately $33,000.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RACE. Evercore ISI increased their target price on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. UBS Group raised their price target on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley raised their price target on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Trading Up 1.9 %

Shares of Ferrari stock opened at $437.62 on Friday. The business’s fifty day moving average price is $462.30 and its two-hundred day moving average price is $442.60. 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 has a 1-year low of $330.15 and a 1-year high of $498.23.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.03). The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.98 EPS. As a group, equities research analysts anticipate that Ferrari will post 8.75 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.