Kestra Investment Management LLC Purchases New Position in Ferrari (NYSE:RACE)

Kestra Investment Management LLC purchased a new stake in Ferrari (NYSE:RACE) in the 4th quarter, HoldingsChannel reports. The fund purchased 107 shares of the company’s stock, valued at approximately $45,000.

Other large investors have also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Ferrari in the 3rd quarter valued at $29,000. Hanson & Doremus Investment Management acquired a new stake in Ferrari in the 4th quarter valued at $26,000. Planning Capital Management Corp acquired a new stake in shares of Ferrari during the third quarter valued at about $30,000. Ashton Thomas Securities LLC acquired a new stake in shares of Ferrari during the third quarter valued at about $33,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Ferrari during the third quarter valued at about $47,000.

Ferrari Stock Down 0.8 %

Shares of Ferrari stock opened at $503.88 on Friday. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The firm has a market cap of $122.82 billion, a P/E ratio of 55.07, a P/E/G ratio of 4.37 and a beta of 0.95. Ferrari has a fifty-two week low of $399.27 and a fifty-two week high of $508.20. The business has a 50-day moving average price of $444.58 and a 200 day moving average price of $454.68.

Analysts Set New Price Targets

Several analysts have recently weighed in on RACE shares. UBS Group raised their target price on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research note on Thursday, February 6th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.