OneDigital Investment Advisors LLC Boosts Holdings in Ferrari N.V. (NYSE:RACE)

OneDigital Investment Advisors LLC grew its holdings in shares of Ferrari N.V. (NYSE:RACE) by 3.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,329 shares of the company’s stock after acquiring an additional 120 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Ferrari were worth $1,424,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in RACE. Park Square Financial Group LLC purchased a new position in shares of Ferrari in the fourth quarter worth $32,000. Alpine Bank Wealth Management purchased a new position in shares of Ferrari in the first quarter worth $33,000. Webster Bank N. A. purchased a new position in shares of Ferrari in the first quarter worth $43,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Ferrari in the first quarter worth $48,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Ferrari by 60.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 148 shares of the company’s stock worth $63,000 after buying an additional 56 shares during the period.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Kepler Capital Markets raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 28th. JPMorgan Chase & Co. cut their price target on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Wall Street Zen cut shares of Ferrari from a “buy” rating to a “hold” rating in a report on Thursday, May 15th. UBS Group lifted their price target on shares of Ferrari from $520.00 to $560.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Finally, Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $526.25.

Ferrari Stock Down 0.8%

NYSE:RACE opened at $486.10 on Tuesday. The firm’s 50-day moving average price is $479.12 and its 200-day moving average price is $456.33. The company has a market capitalization of $117.82 billion, a PE ratio of 51.44, a P/E/G ratio of 5.58 and a beta of 1.09. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 4.04. Ferrari N.V. has a 1-year low of $391.54 and a 1-year high of $509.13.

Ferrari (NYSE:RACE) last released its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.06. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.82 billion. Ferrari had a net margin of 23.00% and a return on equity of 46.46%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.95 EPS. On average, equities analysts predict that Ferrari N.V. will post 9.22 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.