Ferrari (NYSE:RACE) Shares Sold by Obermeyer Wood Investment Counsel Lllp

Obermeyer Wood Investment Counsel Lllp lessened its stake in shares of Ferrari (NYSE:RACE) by 41.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 485 shares of the company’s stock after selling 350 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in Ferrari were worth $211,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jamison Private Wealth Management Inc. acquired a new position in shares of Ferrari during the fourth quarter worth about $27,000. IAG Wealth Partners LLC acquired a new position in shares of Ferrari during the first quarter worth about $33,000. Register Financial Advisors LLC acquired a new position in shares of Ferrari during the first quarter worth about $33,000. Householder Group Estate & Retirement Specialist LLC lifted its stake in shares of Ferrari by 320.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock worth $35,000 after purchasing an additional 80 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Ferrari by 37.0% during the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after purchasing an additional 30 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have commented on RACE. Jefferies Financial Group assumed coverage on Ferrari in a research note on Friday, May 10th. They set a “hold” rating and a $403.00 price objective on the stock. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Thursday, April 4th. Bank of America lifted their target price on Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, UBS Group lifted their target price on Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ferrari currently has a consensus rating of “Hold” and an average target price of $461.67.

Ferrari Price Performance

RACE traded up $6.69 during trading on Friday, reaching $435.16. The stock had a trading volume of 163,630 shares, compared to its average volume of 186,188. The firm has a market capitalization of $80.40 billion, a price-to-earnings ratio of 55.58, a price-to-earnings-growth ratio of 5.19 and a beta of 0.99. The company has a quick ratio of 3.25, a current ratio of 4.18 and a debt-to-equity ratio of 0.80. Ferrari has a 1-year low of $285.02 and a 1-year high of $442.80. The stock has a 50 day moving average of $416.16 and a two-hundred day moving average of $401.12.

Ferrari (NYSE:RACE) last released its earnings results on Tuesday, May 7th. The company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.08. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. Ferrari had a return on equity of 43.94% and a net margin of 21.42%. As a group, equities analysts anticipate that Ferrari will post 8.2 EPS for the current fiscal year.

Ferrari Company 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.