MassMutual Private Wealth & Trust FSB Has $140,000 Position in Ferrari (NYSE:RACE)

MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Ferrari (NYSE:RACE) by 10.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 329 shares of the company’s stock after acquiring an additional 30 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Ferrari were worth $140,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. E Fund Management Hong Kong Co. Ltd. bought a new position in Ferrari during the 3rd quarter worth approximately $29,000. Planning Capital Management Corp bought a new position in shares of Ferrari during the third quarter worth $30,000. Ashton Thomas Securities LLC acquired a new position in shares of Ferrari in the 3rd quarter valued at $33,000. Armstrong Advisory Group Inc. increased its position in shares of Ferrari by 100.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after buying an additional 50 shares in the last quarter. Finally, FSC Wealth Advisors LLC acquired a new stake in Ferrari during the 3rd quarter worth $47,000.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on RACE shares. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $385.00 to $525.00 in a research report on Friday, October 11th. Evercore ISI raised their target price on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. UBS Group lifted 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, StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Stock Performance

Shares of RACE opened at $429.91 on Friday. The stock has a market capitalization of $104.79 billion, a price-to-earnings ratio of 49.93, a PEG ratio of 3.77 and a beta of 0.95. Ferrari has a 12 month low of $330.15 and a 12 month high of $498.23. The firm has a fifty day simple moving average of $433.91 and a 200 day simple moving average of $448.46. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the company earned $1.98 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Research analysts forecast that Ferrari will post 8.59 EPS for the current fiscal year.

About Ferrari

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.