Spectrum Wealth Counsel LLC Has $57,000 Position in Ferrari (NYSE:RACE)

Spectrum Wealth Counsel LLC decreased its position in Ferrari (NYSE:RACE) by 14.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 140 shares of the company’s stock after selling 24 shares during the period. Spectrum Wealth Counsel LLC’s holdings in Ferrari were worth $57,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of RACE. Blue Trust Inc. lifted its position in shares of Ferrari by 3,806.5% in the second quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock worth $528,000 after purchasing an additional 1,180 shares in the last quarter. Logan Capital Management Inc. grew its stake in Ferrari by 1.9% in the fourth quarter. Logan Capital Management Inc. now owns 4,668 shares of the company’s stock valued at $1,580,000 after purchasing an additional 87 shares in the last quarter. Raymond James & Associates increased its position in shares of Ferrari by 1.3% during the 2nd quarter. Raymond James & Associates now owns 50,247 shares of the company’s stock worth $20,519,000 after purchasing an additional 655 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Ferrari by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 4,488,346 shares of the company’s stock worth $1,518,991,000 after purchasing an additional 46,938 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Ferrari by 10.5% during the 1st quarter. Jennison Associates LLC now owns 266,608 shares of the company’s stock worth $116,225,000 after purchasing an additional 25,228 shares in the last quarter.

Ferrari Stock Performance

Shares of RACE opened at $469.09 on Friday. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01. Ferrari has a 52 week low of $285.02 and a 52 week high of $498.23. The firm’s 50-day simple moving average is $446.99 and its 200 day simple moving average is $428.51.

Ferrari (NYSE:RACE) last posted its earnings results on Thursday, August 1st. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.21 by $0.08. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.63 billion. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.99 earnings per share. Sell-side analysts forecast that Ferrari will post 8.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RACE. UBS Group raised their target price on shares of Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Finally, Morgan Stanley lifted their price target on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $481.67.

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.