642 Shares in Ferrari (NYSE:RACE) Purchased by PDS Planning Inc

PDS Planning Inc bought a new stake in shares of Ferrari (NYSE:RACE) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 642 shares of the company’s stock, valued at approximately $217,000.

Other large investors have also recently made changes to their positions in the company. Jamison Private Wealth Management Inc. purchased a new position in shares of Ferrari during the fourth quarter valued at approximately $27,000. Householder Group Estate & Retirement Specialist LLC increased its position in shares of Ferrari by 320.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock valued at $35,000 after acquiring an additional 80 shares in the last quarter. Blue Trust Inc. increased its position in shares of Ferrari by 37.0% during the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after acquiring an additional 30 shares in the last quarter. Allworth Financial LP increased its position in shares of Ferrari by 327.5% during the third quarter. Allworth Financial LP now owns 218 shares of the company’s stock valued at $64,000 after acquiring an additional 167 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new stake in shares of Ferrari during the fourth quarter valued at approximately $78,000.

Ferrari Trading Up 3.5 %

NYSE:RACE opened at $424.61 on Wednesday. The company has a current ratio of 3.91, a quick ratio of 2.98 and a debt-to-equity ratio of 0.81. Ferrari has a 12 month low of $273.39 and a 12 month high of $442.80. The company has a market cap of $78.45 billion, a PE ratio of 56.99, a price-to-earnings-growth ratio of 3.14 and a beta of 0.97. The company has a 50 day simple moving average of $418.37 and a two-hundred day simple moving average of $369.56.

Ferrari (NYSE:RACE) last posted its earnings results on Thursday, February 1st. The company reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.15. Ferrari had a net margin of 21.06% and a return on equity of 43.84%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.61 billion. Research analysts forecast that Ferrari will post 8.31 earnings per share for the current year.

Ferrari Dividend Announcement

The firm also recently disclosed an annual dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be given a dividend of $2.443 per share. This represents a dividend yield of 0.62%. The ex-dividend date is Monday, April 22nd. Ferrari’s payout ratio is 6.91%.

Analyst Upgrades and Downgrades

RACE has been the subject of several analyst reports. Morgan Stanley reissued an “overweight” rating and set a $400.00 price target on shares of Ferrari in a research report on Monday. Evercore ISI raised their price target on shares of Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a research report on Monday. Bank of America raised their price target on shares of Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. Finally, Citigroup downgraded shares of Ferrari from a “neutral” rating to a “sell” rating in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $413.86.

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.