Marks Group Wealth Management Inc Purchases 253 Shares of Ferrari (NYSE:RACE)

Marks Group Wealth Management Inc grew its position in Ferrari (NYSE:RACE) by 16.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,822 shares of the company’s stock after acquiring an additional 253 shares during the period. Marks Group Wealth Management Inc’s holdings in Ferrari were worth $774,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Hanson & Doremus Investment Management acquired a new stake in Ferrari in the 4th quarter valued at about $26,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Ferrari during the third quarter worth approximately $29,000. Planning Capital Management Corp bought a new stake in Ferrari in the third quarter valued at approximately $30,000. Ashton Thomas Securities LLC acquired a new stake in shares of Ferrari in the third quarter valued at approximately $33,000. Finally, Armstrong Advisory Group Inc. lifted its position in shares of Ferrari by 100.0% in the fourth 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.

Ferrari Stock Performance

NYSE RACE opened at $482.56 on Thursday. The firm has a 50-day moving average price of $436.68 and a two-hundred day moving average price of $450.64. Ferrari has a 12-month low of $375.31 and a 12-month high of $498.23. The company has a market capitalization of $117.62 billion, a P/E ratio of 52.74, a P/E/G ratio of 4.04 and a beta of 0.95. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

Wall Street Analyst Weigh In

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

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.