RB Capital Management LLC Makes New $219,000 Investment in Ferrari (NYSE:RACE)

RB Capital Management LLC purchased a new position in Ferrari (NYSE:RACE) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 468 shares of the company’s stock, valued at approximately $219,000.

Several other institutional investors have also modified their holdings of the business. Jamison Private Wealth Management Inc. raised its stake in shares of Ferrari by 27.2% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 103 shares of the company’s stock valued at $48,000 after acquiring an additional 22 shares during the period. First Citizens Bank & Trust Co. raised its position in shares of Ferrari by 3.3% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 787 shares of the company’s stock worth $321,000 after buying an additional 25 shares in the last quarter. Columbia Asset Management raised its position in shares of Ferrari by 1.8% during the 2nd quarter. Columbia Asset Management now owns 1,425 shares of the company’s stock worth $582,000 after buying an additional 25 shares in the last quarter. Elite Wealth Management Inc. raised its position in shares of Ferrari by 1.0% during the 3rd quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock worth $1,225,000 after buying an additional 25 shares in the last quarter. Finally, Addison Advisors LLC grew its stake in shares of Ferrari by 13.6% in the 3rd quarter. Addison Advisors LLC now owns 217 shares of the company’s stock worth $102,000 after purchasing an additional 26 shares during the last quarter.

Ferrari Trading Up 0.0 %

RACE stock opened at $448.56 on Wednesday. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The business’s 50 day moving average price is $455.63 and its two-hundred day moving average price is $444.90. Ferrari has a fifty-two week low of $330.15 and a fifty-two week high of $498.23.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the company posted $1.98 EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Sell-side analysts forecast that Ferrari will post 8.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RACE shares. StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $385.00 to $525.00 in a report on Friday, October 11th. UBS Group upped their price target on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Evercore ISI upped their target price on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Morgan Stanley increased their price target on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

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.