Crews Bank & Trust Buys Shares of 662 Ferrari (NYSE:RACE)

Crews Bank & Trust bought a new stake in shares of Ferrari (NYSE:RACE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 662 shares of the company’s stock, valued at approximately $281,000.

Other institutional investors have also added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. grew its position 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 worth $48,000 after buying an additional 22 shares during the last quarter. Elite Wealth Management Inc. grew its position in shares of Ferrari by 1.0% in 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 during the last quarter. Addison Advisors LLC grew its position 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 buying an additional 26 shares during the last quarter. Marshall Financial Group LLC grew its position in shares of Ferrari by 1.1% in the 3rd quarter. Marshall Financial Group LLC now owns 2,732 shares of the company’s stock worth $1,284,000 after buying an additional 30 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Ferrari by 10.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock worth $140,000 after buying an additional 30 shares during the last quarter.

Ferrari Stock Performance

Shares of NYSE RACE opened at $432.34 on Friday. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 12 month low of $345.92 and a 12 month high of $498.23. The company has a 50 day simple moving average of $433.77 and a two-hundred day simple moving average of $448.48. The stock has a market cap of $105.38 billion, a price-to-earnings ratio of 50.21, a PEG ratio of 3.73 and a beta of 0.95.

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $385.00 to $525.00 in a research report on Friday, October 11th. Evercore ISI lifted their price objective 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. UBS Group lifted their target price on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Ferrari has an average rating of “Moderate Buy” and an average 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.