Shares last traded at $119.68 which is marginally higher than $113.59, the stock’s 50 day moving average and significantly higher than the 200 day moving average of $98.97. The 50 day moving average went up $6.09 or +5.36% whereas the 200 day moving average was up $20.71 or +20.93%. Ferrari N.V. shares had a trading volume of 1,021K by the end of trading on Tuesday. Shares saw a steep increase in trading volume of 112.72% over the normal average daily volume.
Investors are a little more bearish on shares of the company as shown by the uptick in short interest. The stock realized a rise in short interest between September 29, 2017 and October 13, 2017 of 0.40%. Short interest grew 15,145 over that timeframe. With short interest at 3,807,517 and short average daily volume at 413,795, the short-interest ratio is 9.0 and the short interest percentage is 0.02% as of October 13.
Additionally, here are a few investment firms who have increased or decreased their stake in (RACE). Raymond James Financial Services Advisors, Inc. augmented its holdings by buying 346 shares an increase of 3.3% as of 09/30/2017. Raymond James Financial Services Advisors, Inc. claims 10,914 shares with a value of $1,206,000. The total value of its holdings increased 33.0%. As of the end of the quarter Aperio Group, LLC had acquired 6,566 shares growing its holdings by 5.5%. The value of the investment in RACE increased from $10,237,000 to $13,873,000 increasing 35.5% for the reporting period.
As of quarter end Cornerstone Advisors, Inc. had bought a total of 1,330 shares growing its stake by 678.6%. The value of the total investment in Ferrari N.V. went from $17,000 to $169,000 a change of $152,000 since the last quarter. As of the end of the quarter Simplex Trading, LLC had disposed of a total of 12,147 shares trimming its position 69.8%. The value of the investment in Ferrari N.V. decreased from $1,497,000 to $580,000 a change of 61.3% quarter to quarter.
On August 3 UBS held the company rating at “Buy” and raised the price expectation from $60.00 to $125.00. On September 7, 2017 the stock rating was changed to “Underweight” according to a Morgan Stanley report which is down from the previous “Overweight” rating.
Goldman Sachs added the stock to its research portfolio with a rating of “Neutral”.
The company’s P/E ratio is 40.32 and the market value is 22.61B. In the latest earnings report the EPS was $2.97 and is expected to be $3.16 for the current year with 188,953,000 shares now outstanding. Analysts expect next quarter’s EPS to be $0.83 with next year’s EPS anticipated to be $3.48.
Ferrari N.V., together with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers seven models, including four sports cars comprising 488 GTB, 488 Spider, F12berlinetta, and special series F12 Tour de France; and three GT cars that include California T, FF, and GTC4Lusso. It also produces LaFerrari, a limited edition supercar; Fuoriserie, a very limited editions series; and one-off cars; non-registered racing cars; and parts, as well as offers repair, maintenance, and restoration services for cars. In addition, the company licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods; and Ferrari World, a theme park in Abu Dhabi. As of December 31, 2015, it had a network of 25 franchised stores and 12 owned Ferrari stores, as well as store.ferrari.com Website. The company sells its products through a network of 176 independent dealers operating 198 points of sale across 60 markets worldwide. Further, it provides direct or indirect finance, and leasing services for the purchase of cars to retail clients and dealers; participates in the Formula 1 racing activities through Scuderia Ferrari; and manages race tracks, as well as holds real estate properties. The company was founded in 1947 and is headquartered in Maranello, Italy..Advertisement