Rhumbline Advisers lowered its stake in Ferrari (NYSE:RACE – Free Report) by 2.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,913 shares of the company’s stock after selling 40 shares during the quarter. Rhumbline Advisers’ holdings in Ferrari were worth $781,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in RACE. Rothschild Investment LLC acquired a new position in shares of Ferrari in the 2nd quarter valued at $29,000. Register Financial Advisors LLC acquired a new stake in Ferrari during the 1st quarter worth $33,000. Pittenger & Anderson Inc. raised its stake in Ferrari by 168.6% during the 1st quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock worth $41,000 after buying an additional 59 shares during the period. FinTrust Capital Advisors LLC raised its stake in Ferrari by 86.5% during the 4th quarter. FinTrust Capital Advisors LLC now owns 138 shares of the company’s stock worth $47,000 after buying an additional 64 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in Ferrari by 22.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 216 shares of the company’s stock worth $73,000 after buying an additional 39 shares during the period.
Ferrari Price Performance
RACE stock opened at $476.96 on Tuesday. The stock has a market cap of $88.12 billion, a PE ratio of 60.91, a price-to-earnings-growth ratio of 4.89 and a beta of 1.00. The stock has a 50-day moving average price of $451.48 and a two-hundred day moving average price of $430.57. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01. Ferrari has a 1 year low of $285.02 and a 1 year high of $498.23.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the company. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. Morgan Stanley raised their price objective on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Finally, UBS Group increased their target price on Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a report on Monday, June 24th. One 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $481.67.
Check Out Our Latest Analysis on Ferrari
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.
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