Stock Traders Purchase Large Volume of Call Options on Ferrari (NYSE:RACE)

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ferrari nv logo

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Ferrari (NYSE:RACE) was the target of some unusual options trading activity on Thursday. Stock investors purchased 2,313 call options on the company. This is an increase of approximately 1,130% compared to the average volume of 188 call options.

Shares of NYSE:RACE opened at $206.84 on Friday. Ferrari has a 52-week low of $175.49 and a 52-week high of $233.66. The stock has a fifty day moving average of $206.70. The stock has a market capitalization of $38.21 billion, a price-to-earnings ratio of 49.96, a PEG ratio of 2.30 and a beta of 0.90. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.84 and a quick ratio of 3.19.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, May 4th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.22). Ferrari had a return on equity of 35.60% and a net margin of 18.52%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the firm posted $0.90 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. Equities analysts predict that Ferrari will post 5.11 earnings per share for the current fiscal year.

Several research analysts have recently weighed in on RACE shares. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Ferrari in a report on Thursday, May 6th. Morgan Stanley decreased their price target on shares of Ferrari from $273.00 to $265.00 and set an “overweight” rating on the stock in a report on Wednesday, May 5th. Kepler Capital Markets cut shares of Ferrari to a “hold” rating and set a $185.00 price target on the stock. in a report on Friday, July 2nd. Redburn Partners reaffirmed a “neutral” rating on shares of Ferrari in a report on Tuesday, May 25th. Finally, UBS Group decreased their price target on shares of Ferrari from $247.00 to $238.00 and set a “buy” rating on the stock in a report on Tuesday, March 30th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $230.56.

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A number of hedge funds and other institutional investors have recently bought and sold shares of RACE. JJJ Advisors Inc. boosted its position in Ferrari by 174.5% during the first quarter. JJJ Advisors Inc. now owns 129 shares of the company’s stock valued at $27,000 after buying an additional 82 shares during the period. RMR Wealth Builders purchased a new stake in Ferrari during the fourth quarter valued at about $30,000. Institutional & Family Asset Management LLC purchased a new stake in Ferrari during the first quarter valued at about $39,000. Jackson Grant Investment Advisers Inc. purchased a new stake in Ferrari during the fourth quarter valued at about $40,000. Finally, Farmers & Merchants Investments Inc. boosted its position in Ferrari by 48.4% during the first quarter. Farmers & Merchants Investments Inc. now owns 190 shares of the company’s stock valued at $40,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 31.40% of the company’s stock.

Ferrari Company Profile

Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; one-off and track cars; and Icona cars. It also provides racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

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