American Trust cut its holdings in shares of Ferrari (NYSE:RACE – Free Report) 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.
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.
Read Our Latest Research Report on RACE
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.
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