Redhawk Wealth Advisors Inc. Increases Stake in Ferrari (NYSE:RACE)

Redhawk Wealth Advisors Inc. lifted its holdings in shares of Ferrari (NYSE:RACE) by 5.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,049 shares of the company’s stock after purchasing an additional 202 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Ferrari were worth $1,720,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Cerity Partners LLC grew its stake in shares of Ferrari by 14.0% during the third quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock valued at $12,653,000 after buying an additional 3,308 shares during the last quarter. Miracle Mile Advisors LLC boosted its holdings in Ferrari by 123.9% during the 4th quarter. Miracle Mile Advisors LLC now owns 9,005 shares of the company’s stock valued at $3,826,000 after acquiring an additional 4,983 shares during the period. Rheos Capital Works Inc. increased its stake in Ferrari by 30.3% in the 3rd quarter. Rheos Capital Works Inc. now owns 111,700 shares of the company’s stock worth $52,511,000 after purchasing an additional 26,000 shares during the period. Raymond James & Associates lifted its position in Ferrari by 1.4% in the third quarter. Raymond James & Associates now owns 50,940 shares of the company’s stock valued at $23,948,000 after purchasing an additional 693 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Ferrari by 60.0% during the third quarter. Franklin Resources Inc. now owns 22,055 shares of the company’s stock valued at $10,707,000 after purchasing an additional 8,267 shares during the period.

Analyst Ratings Changes

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

Ferrari Stock Performance

Shares of RACE opened at $431.74 on Thursday. Ferrari has a one year low of $330.15 and a one year high of $498.23. The company has a 50-day simple moving average of $435.31 and a two-hundred day simple moving average of $447.97. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The firm has a market capitalization of $79.76 billion, a PE ratio of 50.14, a price-to-earnings-growth ratio of 3.68 and a beta of 0.95.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.03). The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.98 EPS. On average, analysts anticipate that Ferrari will post 8.59 EPS 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.