Benchmark Financial Wealth Advisors LLC Has $419,000 Holdings in Ferrari (NYSE:RACE)

Benchmark Financial Wealth Advisors LLC trimmed its stake in shares of Ferrari (NYSE:RACE) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 987 shares of the company’s stock after selling 90 shares during the period. Benchmark Financial Wealth Advisors LLC’s holdings in Ferrari were worth $419,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Hanson & Doremus Investment Management acquired a new stake in shares of Ferrari in the 4th quarter valued at $26,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Ferrari in the third quarter valued at about $29,000. Planning Capital Management Corp bought a new stake in Ferrari during the 3rd quarter worth about $30,000. Ashton Thomas Securities LLC bought a new position in shares of Ferrari in the 3rd quarter valued at about $33,000. Finally, Armstrong Advisory Group Inc. grew its position in shares of Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after buying an additional 50 shares during the period.

Analyst Upgrades and Downgrades

RACE has been the topic of a number of recent research reports. UBS Group raised their price objective on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday. Evercore ISI upped 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. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $385.00 to $525.00 in a report on Friday, October 11th. Finally, StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Stock Up 1.1 %

NYSE:RACE opened at $464.54 on Thursday. The stock has a 50-day simple moving average of $434.09 and a 200 day simple moving average of $449.06. Ferrari has a 52-week low of $373.79 and a 52-week high of $498.23. The company has a market cap of $113.23 billion, a PE ratio of 53.95, a PEG ratio of 3.72 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57.

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 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 business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the business earned $1.98 earnings per share. Ferrari’s revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts expect that Ferrari will post 8.59 EPS for the current fiscal year.

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.