OneDigital Investment Advisors LLC Has $1.45 Million Stock Holdings in Ferrari (NYSE:RACE)

OneDigital Investment Advisors LLC increased its position in shares of Ferrari (NYSE:RACE) by 3.8% during the third quarter, Holdings Channel reports. The institutional investor owned 3,078 shares of the company’s stock after purchasing an additional 113 shares during the period. OneDigital Investment Advisors LLC’s holdings in Ferrari were worth $1,447,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rothschild Investment LLC bought a new stake in shares of Ferrari during the second quarter valued at approximately $29,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Ferrari during the 3rd quarter valued at $29,000. Planning Capital Management Corp bought a new stake in Ferrari during the 3rd quarter valued at $30,000. Valley Wealth Managers Inc. acquired a new position in Ferrari during the second quarter worth $33,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Ferrari in the third quarter valued at $33,000.

Ferrari Stock Down 2.1 %

NYSE RACE opened at $430.99 on Monday. The business’s fifty day moving average is $466.22 and its 200-day moving average is $442.37. 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 has a one year low of $330.15 and a one year high of $498.23.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on RACE. Morgan Stanley boosted their target price on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. UBS Group increased their price objective on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Evercore ISI lifted their target price on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $385.00 to $525.00 in a report on Friday, October 11th. Finally, StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus 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.