Ferrari (NYSE:RACE) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lowered its holdings in Ferrari (NYSE:RACE) by 36.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 895 shares of the company’s stock after selling 524 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Ferrari were worth $418,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RACE. American Trust lifted its position in shares of Ferrari by 117.0% during the 3rd quarter. American Trust now owns 2,554 shares of the company’s stock valued at $1,201,000 after acquiring an additional 1,377 shares during the period. Franklin Resources Inc. increased its stake in Ferrari by 60.0% in the 3rd quarter. Franklin Resources Inc. now owns 22,055 shares of the company’s stock valued at $10,707,000 after purchasing an additional 8,267 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Ferrari during the third quarter worth $417,000. Sanctuary Advisors LLC raised its holdings in Ferrari by 13.2% during the third quarter. Sanctuary Advisors LLC now owns 13,921 shares of the company’s stock worth $6,062,000 after purchasing an additional 1,623 shares during the last quarter. Finally, Sculati Wealth Management LLC boosted its position in Ferrari by 2.0% during the third quarter. Sculati Wealth Management LLC now owns 6,029 shares of the company’s stock worth $2,628,000 after purchasing an additional 120 shares in the last quarter.

Ferrari Trading Up 0.6 %

Shares of RACE opened at $425.30 on Friday. Ferrari has a fifty-two week low of $330.15 and a fifty-two week high of $498.23. The company has a market capitalization of $78.57 billion, a PE ratio of 49.40, a price-to-earnings-growth ratio of 4.26 and a beta of 0.95. The stock has a fifty day moving average of $453.40 and a two-hundred day moving average of $446.02. 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 released its 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 analysts’ expectations of $1.80 billion. During the same quarter last year, the company posted $1.98 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, analysts forecast that Ferrari will post 8.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. UBS Group raised their price target on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Evercore ISI raised their target price on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Morgan Stanley upped their price target on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. JPMorgan Chase & Co. raised shares of 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 research note on Friday, October 11th. Finally, StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari 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.