Mount Yale Investment Advisors LLC Decreases Stake in Ferrari (NYSE:RACE)

Mount Yale Investment Advisors LLC lessened its stake in Ferrari (NYSE:RACE) by 34.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,702 shares of the company’s stock after selling 4,054 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Ferrari were worth $3,145,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Ferrari by 8.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 112,629 shares of the company’s stock worth $38,117,000 after purchasing an additional 9,010 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Ferrari by 3.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 15,585 shares of the company’s stock worth $5,275,000 after purchasing an additional 456 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Ferrari by 4.6% during the fourth quarter. Wells Fargo & Company MN now owns 85,688 shares of the company’s stock worth $28,999,000 after purchasing an additional 3,759 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in Ferrari during the fourth quarter worth approximately $2,105,000. Finally, Corient Private Wealth LLC lifted its stake in Ferrari by 27.8% during the fourth quarter. Corient Private Wealth LLC now owns 9,089 shares of the company’s stock worth $3,067,000 after purchasing an additional 1,978 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. Morgan Stanley boosted their price objective on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. UBS Group boosted their price objective on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Ferrari has an average rating of “Moderate Buy” and an average price target of $481.67.

Ferrari Trading Down 0.7 %

NYSE:RACE opened at $470.56 on Friday. The firm has a market cap of $86.94 billion, a P/E ratio of 60.10, a PEG ratio of 4.89 and a beta of 1.00. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01. The stock’s 50 day simple moving average is $450.52 and its 200-day simple moving average is $430.08. Ferrari has a 12-month low of $285.02 and a 12-month high of $498.23.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Thursday, August 1st. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.08. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the company posted $1.99 earnings per share. Ferrari’s quarterly revenue was up 16.1% on a year-over-year basis. Equities analysts anticipate that Ferrari will post 8.71 EPS for the current year.

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.