Prosperity Financial Group Inc. Purchases 244 Shares of Ferrari (NYSE:RACE)

Prosperity Financial Group Inc. boosted its holdings in shares of Ferrari (NYSE:RACE) by 13.9% in the 3rd quarter, Holdings Channel reports. The firm owned 1,995 shares of the company’s stock after buying an additional 244 shares during the period. Prosperity Financial Group Inc.’s holdings in Ferrari were worth $938,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Rothschild Investment LLC bought a new stake in shares of Ferrari during the 2nd quarter valued at approximately $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Ferrari in the third quarter valued at approximately $29,000. Planning Capital Management Corp bought a new stake in shares of Ferrari during the third quarter worth $30,000. Valley Wealth Managers Inc. acquired a new position in shares of Ferrari during the second quarter worth $33,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Ferrari in the 3rd quarter valued at $33,000.

Wall Street Analyst Weigh In

RACE has been the topic of a number of research reports. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI boosted their price target on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Morgan Stanley lifted their target price on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and raised their price target for the company from $385.00 to $525.00 in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Trading Up 1.9 %

Shares of NYSE RACE opened at $437.62 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. Ferrari has a twelve month low of $330.15 and a twelve month high of $498.23. The firm has a fifty day simple moving average of $462.30 and a 200 day simple moving average of $442.85.

Ferrari (NYSE:RACE) last posted its quarterly earnings data 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). 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 the consensus estimate of $1.80 billion. During the same period last year, the business posted $1.98 earnings per share. The business’s revenue was up 6.5% on a year-over-year basis. On average, equities research analysts predict that Ferrari will post 8.66 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.