Apollon Wealth Management LLC Boosts Stock Holdings in Ferrari (NYSE:RACE)

Apollon Wealth Management LLC grew its stake in shares of Ferrari (NYSE:RACE) by 7.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,002 shares of the company’s stock after buying an additional 69 shares during the period. Apollon Wealth Management LLC’s holdings in Ferrari were worth $471,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in RACE. Vanguard Group Inc. grew its position in Ferrari by 1.4% during the first quarter. Vanguard Group Inc. now owns 4,549,934 shares of the company’s stock valued at $1,983,498,000 after acquiring an additional 61,588 shares during the period. Capital Research Global Investors grew its holdings in shares of Ferrari by 3.9% during the 1st quarter. Capital Research Global Investors now owns 1,329,714 shares of the company’s stock worth $579,585,000 after purchasing an additional 49,367 shares during the period. Legal & General Group Plc raised its holdings in Ferrari by 2.4% in the second quarter. Legal & General Group Plc now owns 1,256,482 shares of the company’s stock valued at $512,660,000 after buying an additional 30,014 shares during the period. International Assets Investment Management LLC lifted its position in Ferrari by 47,023.5% during the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock valued at $5,551,600,000 after buying an additional 1,178,410 shares in the last quarter. Finally, Capital International Investors grew its stake in Ferrari by 314.3% during the first quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock worth $454,792,000 after buying an additional 791,596 shares during the period.

Ferrari Trading Down 2.1 %

RACE opened at $430.99 on Friday. Ferrari has a 12-month low of $330.15 and a 12-month 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 market capitalization of $79.63 billion, a PE ratio of 50.06, a P/E/G ratio of 4.62 and a beta of 0.99. The firm’s fifty day moving average price is $466.22 and its 200 day moving average price is $442.00.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.98 EPS. As a group, research analysts expect that Ferrari will post 8.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RACE has been the topic of several recent research reports. Morgan Stanley lifted their target price on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Evercore ISI upped their target price on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and upped their target price for the company from $385.00 to $525.00 in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ferrari presently has an average rating of “Moderate Buy” and an average target price 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.