Blue Trust Inc. Has $528,000 Stock Holdings in Ferrari (NYSE:RACE)

Blue Trust Inc. raised its position in Ferrari (NYSE:RACE) by 3,806.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,211 shares of the company’s stock after purchasing an additional 1,180 shares during the quarter. Blue Trust Inc.’s holdings in Ferrari were worth $528,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RACE. Assenagon Asset Management S.A. raised its holdings in Ferrari by 3.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 11,007 shares of the company’s stock worth $4,493,000 after purchasing an additional 326 shares during the last quarter. Cigna Investments Inc. New lifted its holdings in Ferrari by 1.6% in the second quarter. Cigna Investments Inc. New now owns 2,386 shares of the company’s stock valued at $973,000 after buying an additional 37 shares during the period. SteelPeak Wealth LLC bought a new stake in Ferrari during the second quarter valued at $218,000. Great Valley Advisor Group Inc. grew its holdings in Ferrari by 12.8% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 1,583 shares of the company’s stock worth $647,000 after acquiring an additional 180 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Ferrari by 23.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,104 shares of the company’s stock worth $859,000 after acquiring an additional 402 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley reaffirmed an “overweight” rating and set a $400.00 price objective on shares of Ferrari in a research report on Monday, April 22nd. UBS Group boosted their target price on shares of Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research report on Monday, June 24th. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Finally, Evercore ISI increased their price objective on shares of Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $461.67.

Ferrari Stock Up 1.2 %

Shares of Ferrari stock traded up $5.57 during trading hours on Friday, reaching $459.70. The company’s stock had a trading volume of 316,054 shares, compared to its average volume of 274,855. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.32 and a current ratio of 4.35. The stock’s fifty day simple moving average is $421.79 and its two-hundred day simple moving average is $415.56. The company has a market capitalization of $84.93 billion, a P/E ratio of 58.71, a P/E/G ratio of 4.71 and a beta of 0.99. Ferrari has a one year low of $285.02 and a one year high of $463.00.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Thursday, August 1st. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.08. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.99 EPS. On average, research analysts forecast that Ferrari will post 8.66 earnings per share for the current 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.