Panoramic Capital Partners LLC Acquires New Holdings in Ferrari (NYSE:RACE)

Panoramic Capital Partners LLC bought a new position in Ferrari (NYSE:RACE) in the 4th quarter, Holdings Channel.com reports. The fund bought 759 shares of the company’s stock, valued at approximately $322,000.

Several other hedge funds also recently modified their holdings of the business. Hanson & Doremus Investment Management acquired a new stake in Ferrari in the 4th quarter worth approximately $26,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Ferrari in the third quarter valued at approximately $29,000. Planning Capital Management Corp acquired a new stake in shares of Ferrari in the third quarter worth $30,000. Ashton Thomas Securities LLC bought a new stake in shares of Ferrari during the 3rd quarter worth $33,000. Finally, Armstrong Advisory Group Inc. grew its stake in Ferrari by 100.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after buying an additional 50 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RACE shares. UBS Group boosted their target price 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. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research note on Thursday, February 6th. They set a “hold” rating for the company. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Finally, Evercore ISI raised their price objective on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Stock Up 3.2 %

Shares of RACE stock opened at $460.86 on Tuesday. Ferrari has a one year low of $375.31 and a one year high of $498.23. 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 stock has a fifty day moving average price of $435.60 and a 200 day moving average price of $449.82. The stock has a market cap of $112.33 billion, a P/E ratio of 50.37, a price-to-earnings-growth ratio of 4.04 and a beta of 0.95.

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.