Sanctuary Advisors LLC Purchases 1,623 Shares of Ferrari (NYSE:RACE)

Sanctuary Advisors LLC boosted its holdings in Ferrari (NYSE:RACE) by 13.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 13,921 shares of the company’s stock after buying an additional 1,623 shares during the period. Sanctuary Advisors LLC’s holdings in Ferrari were worth $6,062,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in shares of Ferrari by 86.6% during the second quarter. SG Americas Securities LLC now owns 1,360 shares of the company’s stock valued at $555,000 after buying an additional 631 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Ferrari by 23.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,104 shares of the company’s stock valued at $859,000 after acquiring an additional 402 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Ferrari by 3.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 11,007 shares of the company’s stock valued at $4,493,000 after acquiring an additional 326 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Ferrari by 3,806.5% in the second quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock worth $528,000 after acquiring an additional 1,180 shares during the period. Finally, Raymond James & Associates raised its holdings in shares of Ferrari by 1.3% during the second quarter. Raymond James & Associates now owns 50,247 shares of the company’s stock valued at $20,519,000 after purchasing an additional 655 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Ferrari Stock Up 0.5 %

RACE opened at $454.18 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The stock’s fifty day moving average is $455.46 and its two-hundred day moving average is $445.70. Ferrari has a 52 week low of $330.15 and a 52 week high of $498.23.

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

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.