Blue Trust Inc. Buys 357 Shares of Ferrari (NYSE:RACE)

Blue Trust Inc. lifted its stake in shares of Ferrari (NYSE:RACE) by 41.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,220 shares of the company’s stock after purchasing an additional 357 shares during the quarter. Blue Trust Inc.’s holdings in Ferrari were worth $574,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in RACE. Jamison Private Wealth Management Inc. grew its holdings in shares of Ferrari by 27.2% during the third quarter. Jamison Private Wealth Management Inc. now owns 103 shares of the company’s stock valued at $48,000 after buying an additional 22 shares during the last quarter. Elite Wealth Management Inc. increased its holdings in Ferrari by 1.0% during the 3rd quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock worth $1,225,000 after purchasing an additional 25 shares in the last quarter. Addison Advisors LLC raised its stake in shares of Ferrari by 13.6% in the third quarter. Addison Advisors LLC now owns 217 shares of the company’s stock worth $102,000 after purchasing an additional 26 shares during the last quarter. Marshall Financial Group LLC lifted its holdings in shares of Ferrari by 1.1% in the third quarter. Marshall Financial Group LLC now owns 2,732 shares of the company’s stock valued at $1,284,000 after purchasing an additional 30 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Ferrari by 10.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock valued at $140,000 after buying an additional 30 shares during the last quarter.

Analyst Ratings Changes

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

Ferrari Stock Up 0.8 %

Ferrari stock opened at $432.34 on Friday. The firm has a 50 day moving average price of $433.77 and a 200-day moving average price of $448.48. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a twelve month low of $345.92 and a twelve month high of $498.23. The company has a market capitalization of $105.38 billion, a P/E ratio of 50.21, a P/E/G ratio of 3.70 and a beta of 0.95.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 earnings per share 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 firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the company posted $1.98 earnings per share. Ferrari’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities analysts predict that Ferrari will post 8.59 EPS for the current year.

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.