Kovack Advisors Inc. Purchases 1,567 Shares of Ferrari N.V. $RACE

Kovack Advisors Inc. grew its position in Ferrari N.V. (NYSE:RACE) by 128.5% in the second quarter, HoldingsChannel.com reports. The fund owned 2,786 shares of the company’s stock after buying an additional 1,567 shares during the quarter. Kovack Advisors Inc.’s holdings in Ferrari were worth $1,367,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. GW&K Investment Management LLC raised its stake in shares of Ferrari by 288.9% in the first quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock valued at $30,000 after acquiring an additional 52 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Ferrari by 41.2% in the second quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock valued at $35,000 after acquiring an additional 21 shares during the last quarter. Brooklyn Investment Group raised its stake in shares of Ferrari by 381.3% in the first quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock valued at $33,000 after acquiring an additional 61 shares during the last quarter. Centerpoint Advisors LLC bought a new position in shares of Ferrari in the first quarter valued at approximately $43,000. Finally, Gordian Capital Singapore Pte Ltd raised its stake in shares of Ferrari by 42.9% in the first quarter. Gordian Capital Singapore Pte Ltd now owns 100 shares of the company’s stock valued at $43,000 after acquiring an additional 30 shares during the last quarter.

Ferrari Stock Performance

RACE stock opened at $404.46 on Friday. The business’s fifty day moving average is $453.19 and its 200-day moving average is $467.31. The company has a quick ratio of 3.94, a current ratio of 5.09 and a debt-to-equity ratio of 0.89. The company has a market cap of $98.03 billion, a P/E ratio of 41.74, a price-to-earnings-growth ratio of 4.20 and a beta of 1.08. Ferrari N.V. has a twelve month low of $372.31 and a twelve month high of $519.10.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.13. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.05 billion. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.29 EPS. Equities research analysts forecast that Ferrari N.V. will post 9.22 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Sanford C. Bernstein cut their target price on shares of Ferrari from $554.00 to $475.00 and set an “outperform” rating for the company in a research note on Friday, October 10th. Hsbc Global Res raised shares of Ferrari from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. Cfra Research lowered shares of Ferrari from a “hold” rating to a “moderate sell” rating in a report on Thursday, July 31st. HSBC raised shares of Ferrari from a “hold” rating to a “buy” rating and set a $470.00 price target for the company in a report on Thursday, October 2nd. Finally, Citigroup lowered their price target on shares of Ferrari from $579.00 to $529.00 and set a “buy” rating for the company in a report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Ferrari presently has an average rating of “Buy” and a consensus target price of $501.14.

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.