Marshall Financial Group LLC Cuts Stake in Ferrari (NYSE:RACE)

Marshall Financial Group LLC cut its holdings in Ferrari (NYSE:RACE) by 1.3% during the fourth quarter, Holdings Channel reports. The firm owned 2,696 shares of the company’s stock after selling 36 shares during the quarter. Marshall Financial Group LLC’s holdings in Ferrari were worth $1,145,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cerity Partners LLC lifted its holdings in shares of Ferrari by 14.0% in the third quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock worth $12,653,000 after buying an additional 3,308 shares in the last quarter. Miracle Mile Advisors LLC lifted its stake in Ferrari by 123.9% in the 4th quarter. Miracle Mile Advisors LLC now owns 9,005 shares of the company’s stock worth $3,826,000 after purchasing an additional 4,983 shares in the last quarter. Rheos Capital Works Inc. grew its position in shares of Ferrari by 30.3% during the third quarter. Rheos Capital Works Inc. now owns 111,700 shares of the company’s stock valued at $52,511,000 after purchasing an additional 26,000 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Ferrari by 1.4% in the third quarter. Raymond James & Associates now owns 50,940 shares of the company’s stock worth $23,948,000 after purchasing an additional 693 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Ferrari by 60.0% in the third quarter. Franklin Resources Inc. now owns 22,055 shares of the company’s stock worth $10,707,000 after buying an additional 8,267 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. UBS Group lifted their price objective on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. Finally, Evercore ISI increased their price target on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ferrari currently has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Price Performance

RACE stock opened at $432.26 on Friday. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 12 month low of $330.15 and a 12 month high of $498.23. The stock has a market cap of $105.36 billion, a PE ratio of 50.20, a P/E/G ratio of 3.70 and a beta of 0.95. The company has a 50-day moving average price of $433.73 and a 200 day moving average price of $448.37.

Ferrari (NYSE:RACE) last announced its 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). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the firm earned $1.98 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. Equities research analysts anticipate that Ferrari will post 8.59 earnings per share for the current year.

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.