Dynamic Technology Lab Private Ltd Decreases Stake in Ferrari (NYSE:RACE)

Dynamic Technology Lab Private Ltd cut its position in Ferrari (NYSE:RACE) by 38.0% during the third quarter, HoldingsChannel reports. The firm owned 1,756 shares of the company’s stock after selling 1,078 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Ferrari were worth $826,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in Ferrari by 3,806.5% in the second quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock valued at $528,000 after buying an additional 1,180 shares during the last quarter. Raymond James & Associates boosted its position in shares of Ferrari by 1.3% during the 2nd quarter. Raymond James & Associates now owns 50,247 shares of the company’s stock worth $20,519,000 after acquiring an additional 655 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Ferrari by 14.0% in the 3rd quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock valued at $12,653,000 after acquiring an additional 3,308 shares during the last quarter. Gateway Investment Advisers LLC increased its holdings in shares of Ferrari by 46.7% in the 2nd quarter. Gateway Investment Advisers LLC now owns 6,864 shares of the company’s stock valued at $2,803,000 after acquiring an additional 2,185 shares during the last quarter. Finally, Rheos Capital Works Inc. raised its position in shares of Ferrari by 30.3% during the 3rd quarter. Rheos Capital Works Inc. now owns 111,700 shares of the company’s stock worth $52,511,000 after acquiring an additional 26,000 shares in the last quarter.

Ferrari Price Performance

NYSE RACE opened at $431.57 on Thursday. The firm’s fifty day moving average is $460.57 and its two-hundred day moving average is $443.15. Ferrari has a one year low of $330.15 and a one year high of $498.23. 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 (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.03). The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.98 EPS. On average, analysts forecast that Ferrari will post 8.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RACE shares. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. UBS Group upped their target price on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Evercore ISI lifted their price target on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $385.00 to $525.00 in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.