Ballentine Partners LLC Sells 25 Shares of Ferrari (NYSE:RACE)

Ballentine Partners LLC lessened its holdings in Ferrari (NYSE:RACE) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,648 shares of the company’s stock after selling 25 shares during the period. Ballentine Partners LLC’s holdings in Ferrari were worth $701,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Ferrari by 10.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock valued at $140,000 after purchasing an additional 30 shares in the last quarter. Ameritas Advisory Services LLC boosted its position in Ferrari by 147.5% in the fourth quarter. Ameritas Advisory Services LLC now owns 1,710 shares of the company’s stock valued at $727,000 after buying an additional 1,019 shares in the last quarter. Arkadios Wealth Advisors bought a new stake in shares of Ferrari during the fourth quarter worth $377,000. Merit Financial Group LLC acquired a new position in shares of Ferrari during the fourth quarter worth $356,000. Finally, Outlook Wealth Advisors LLC lifted its stake in shares of Ferrari by 11.2% in the 4th quarter. Outlook Wealth Advisors LLC now owns 892 shares of the company’s stock valued at $379,000 after acquiring an additional 90 shares during the last quarter.

Ferrari Trading Down 1.8 %

RACE opened at $432.38 on Thursday. Ferrari has a twelve month low of $330.15 and a twelve month high of $498.23. The company has a fifty day moving average of $434.05 and a 200-day moving average of $448.58. The stock has a market cap of $105.39 billion, a PE ratio of 50.22, a price-to-earnings-growth ratio of 3.73 and a beta of 0.95. 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 (NYSE:RACE) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.98 earnings per share. On average, sell-side analysts predict that Ferrari will post 8.59 EPS for the current year.

Wall Street Analysts Forecast Growth

RACE has been the subject of a number of recent research reports. UBS Group upped their target price on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Evercore ISI raised their price objective on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $385.00 to $525.00 in a report on Friday, October 11th. Finally, StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. One equities research 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.