Ferrari (NYSE:RACE) Shares Sold by American Trust

American Trust cut its holdings in shares of Ferrari (NYSE:RACE) by 14.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,176 shares of the company’s stock after selling 200 shares during the period. American Trust’s holdings in Ferrari were worth $513,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. IAG Wealth Partners LLC acquired a new stake in shares of Ferrari during the 1st quarter valued at about $33,000. Register Financial Advisors LLC purchased a new position in Ferrari in the 1st quarter valued at about $33,000. Pittenger & Anderson Inc. lifted its stake in Ferrari by 168.6% in the 1st quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock valued at $41,000 after buying an additional 59 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC lifted its stake in Ferrari by 320.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock valued at $35,000 after buying an additional 80 shares in the last quarter. Finally, Spire Wealth Management purchased a new position in Ferrari in the 1st quarter valued at about $46,000.

Ferrari Stock Performance

Shares of NYSE RACE traded up $11.97 during midday trading on Friday, reaching $433.59. 535,440 shares of the stock were exchanged, compared to its average volume of 199,675. The company has a 50 day simple moving average of $417.91 and a 200 day simple moving average of $409.69. The company has a quick ratio of 3.25, a current ratio of 4.18 and a debt-to-equity ratio of 0.80. Ferrari has a twelve month low of $285.02 and a twelve month high of $442.80.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.08. Ferrari had a net margin of 21.84% and a return on equity of 45.20%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. As a group, sell-side analysts forecast that Ferrari will post 8.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RACE. Morgan Stanley reaffirmed an “overweight” rating and issued a $400.00 price target on shares of Ferrari in a research note on Monday, April 22nd. UBS Group raised their target price on shares of Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Sanford C. Bernstein raised their target price on shares of Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Evercore ISI raised their target price on shares of Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Finally, Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $461.67.

About Ferrari

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.