Blue Trust Inc. Boosts Stock Position in Ferrari (NYSE:RACE)

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

Several other hedge funds also recently made changes to their positions in the stock. AQR Capital Management LLC bought a new position in Ferrari in the 2nd quarter worth about $228,000. Creative Planning boosted its position in shares of Ferrari by 5.9% in the second quarter. Creative Planning now owns 10,959 shares of the company’s stock valued at $4,475,000 after acquiring an additional 606 shares during the period. NewEdge Advisors LLC grew its stake in Ferrari by 23.1% during the second quarter. NewEdge Advisors LLC now owns 3,401 shares of the company’s stock valued at $1,389,000 after acquiring an additional 639 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in Ferrari by 31.6% during the 2nd quarter. Sunbelt Securities Inc. now owns 379 shares of the company’s stock worth $155,000 after acquiring an additional 91 shares during the period. Finally, Truist Financial Corp lifted its stake in Ferrari by 8.2% in the 2nd quarter. Truist Financial Corp now owns 10,605 shares of the company’s stock worth $4,331,000 after purchasing an additional 804 shares in the last quarter.

Ferrari Stock Up 0.8 %

Shares of RACE opened at $432.34 on Friday. The firm has a market cap 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 has a 1 year low of $345.92 and a 1 year high of $498.23. The stock has a 50 day simple moving average of $433.77 and a two-hundred day simple moving average of $448.48. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55.

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

Analyst Ratings Changes

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