Ferrari (NYSE:RACE) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. lowered its position in Ferrari (NYSE:RACE) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,581 shares of the company’s stock after selling 88 shares during the period. Logan Capital Management Inc.’s holdings in Ferrari were worth $2,154,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jamison Private Wealth Management Inc. increased its position in Ferrari by 27.2% during the third quarter. Jamison Private Wealth Management Inc. now owns 103 shares of the company’s stock worth $48,000 after buying an additional 22 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in shares of Ferrari by 3.3% in the second quarter. First Citizens Bank & Trust Co. now owns 787 shares of the company’s stock valued at $321,000 after buying an additional 25 shares during the last quarter. Columbia Asset Management lifted its stake in shares of Ferrari by 1.8% during the second quarter. Columbia Asset Management now owns 1,425 shares of the company’s stock valued at $582,000 after buying an additional 25 shares during the period. Elite Wealth Management Inc. boosted its position in Ferrari by 1.0% during the third quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock worth $1,225,000 after acquiring an additional 25 shares during the last quarter. Finally, Addison Advisors LLC raised its holdings in Ferrari by 13.6% in the 3rd quarter. Addison Advisors LLC now owns 217 shares of the company’s stock valued at $102,000 after acquiring an additional 26 shares during the last quarter.

Ferrari Price Performance

Shares of Ferrari stock opened at $453.92 on Friday. The business has a 50-day moving average price of $455.46 and a 200 day moving average price of $445.47. Ferrari has a fifty-two week low of $330.15 and a fifty-two week high of $498.23. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.03). The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.98 earnings per share. On average, analysts predict that Ferrari will post 8.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on RACE shares. Morgan Stanley increased their target price on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. UBS Group raised their price objective on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and increased their target price for the company from $385.00 to $525.00 in a research note on Friday, October 11th. Finally, Evercore ISI boosted their price target on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $507.14.

About Ferrari

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.