Ferrari (NYSE:RACE) Shares Sold by Equitable Trust Co.

Equitable Trust Co. lessened its stake in Ferrari (NYSE:RACE) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,676 shares of the company’s stock after selling 164 shares during the quarter. Equitable Trust Co.’s holdings in Ferrari were worth $5,959,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Rothschild Investment LLC acquired a new position in Ferrari during the second quarter valued at approximately $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Ferrari in the third quarter valued at about $29,000. Valley Wealth Managers Inc. purchased a new stake in shares of Ferrari in the second quarter worth about $33,000. Denver PWM LLC acquired a new stake in shares of Ferrari in the second quarter valued at about $35,000. Finally, FSC Wealth Advisors LLC purchased a new stake in shares of Ferrari during the 3rd quarter valued at about $47,000.

Ferrari Stock Performance

Shares of RACE opened at $454.63 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.32. Ferrari has a 12-month low of $330.15 and a 12-month high of $498.23. The business’s fifty day moving average price is $470.58 and its 200 day moving average price is $441.32. The stock has a market capitalization of $83.99 billion, a PE ratio of 52.80, a price-to-earnings-growth ratio of 4.69 and a beta of 0.99.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 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 during the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the firm posted $1.98 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Equities research analysts forecast that Ferrari will post 8.68 EPS for the current year.

Analyst Upgrades and Downgrades

RACE has been the subject of several recent research reports. Morgan Stanley increased their price objective on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. Evercore ISI boosted their price objective on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Finally, UBS Group lifted their price objective on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Ferrari presently has an average rating of “Moderate Buy” and a consensus 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.