Busey Bank Sells 52 Shares of Ferrari (NYSE:RACE)

Busey Bank trimmed its holdings in shares of Ferrari (NYSE:RACE) by 9.7% in the 4th quarter, Holdings Channel reports. The firm owned 486 shares of the company’s stock after selling 52 shares during the quarter. Busey Bank’s holdings in Ferrari were worth $206,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Jamison Private Wealth Management Inc. lifted its holdings in Ferrari by 27.2% during the 3rd 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 in the last quarter. Elite Wealth Management Inc. increased its position in shares of 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 period. Addison Advisors LLC raised its stake in shares of Ferrari by 13.6% during the third quarter. Addison Advisors LLC now owns 217 shares of the company’s stock valued at $102,000 after acquiring an additional 26 shares in the last quarter. Marshall Financial Group LLC boosted 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 during the period. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Ferrari by 10.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock worth $140,000 after purchasing an additional 30 shares in the last quarter.

Ferrari Stock Up 0.8 %

NYSE:RACE opened at $432.34 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The stock has a market capitalization of $105.38 billion, a P/E ratio of 50.21, a P/E/G ratio of 3.73 and a beta of 0.95. The company’s 50-day simple moving average is $433.77 and its 200-day simple moving average is $448.48. Ferrari has a fifty-two week low of $345.92 and a fifty-two week high of $498.23.

Ferrari (NYSE:RACE) last released 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). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the firm posted $1.98 earnings per share. Ferrari’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities analysts anticipate that Ferrari will post 8.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.