Outlook Wealth Advisors LLC Buys 167 Shares of Ferrari (NYSE:RACE)

Outlook Wealth Advisors LLC lifted its position in Ferrari (NYSE:RACE) by 25.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 815 shares of the company’s stock after buying an additional 167 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Ferrari were worth $355,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in Ferrari by 37.0% in the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after acquiring an additional 30 shares during the last quarter. Merlin Capital Inc raised its holdings in shares of Ferrari by 1.3% in the 3rd quarter. Merlin Capital Inc now owns 2,496 shares of the company’s stock valued at $738,000 after purchasing an additional 32 shares during the period. Hexagon Capital Partners LLC lifted its stake in Ferrari by 16.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 239 shares of the company’s stock valued at $104,000 after purchasing an additional 33 shares during the last quarter. Kolinsky Wealth Management LLC increased its position in Ferrari by 2.2% during the fourth quarter. Kolinsky Wealth Management LLC now owns 1,704 shares of the company’s stock worth $577,000 after buying an additional 36 shares during the last quarter. Finally, Allworth Financial LP raised its stake in Ferrari by 17.0% in the fourth quarter. Allworth Financial LP now owns 255 shares of the company’s stock valued at $86,000 after buying an additional 37 shares during the period.

Ferrari Trading Up 2.5 %

NYSE RACE traded up $10.25 during midday trading on Friday, hitting $422.46. The company had a trading volume of 217,590 shares, compared to its average volume of 246,668. The firm has a 50-day moving average price of $420.26 and a 200-day moving average price of $371.06. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.91 and a quick ratio of 2.98. Ferrari has a twelve month low of $273.39 and a twelve month high of $442.80.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Thursday, February 1st. The company reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.15. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.61 billion. On average, analysts expect that Ferrari will post 8.31 EPS for the current fiscal year.

Ferrari Dividend Announcement

The firm also recently announced an annual dividend, which will be paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd will be paid a dividend of $2.443 per share. This represents a yield of 0.62%. The ex-dividend date of this dividend is Monday, April 22nd.

Analyst Ratings Changes

A number of research firms recently weighed in on RACE. Bank of America increased their price target on Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Citigroup lowered shares of Ferrari from a “neutral” rating to a “sell” rating in a research note on Monday, March 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $400.00 target price on shares of Ferrari in a research report on Monday, April 22nd. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, UBS Group boosted their price target on Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Ferrari presently has an average rating of “Hold” and an average target price of $413.86.

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.