Ferrari (NYSE:RACE) Shares Sold by Blue Trust Inc.

Blue Trust Inc. lowered its position in Ferrari (NYSE:RACE) by 28.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 863 shares of the company’s stock after selling 348 shares during the quarter. Blue Trust Inc.’s holdings in Ferrari were worth $406,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. increased its holdings in shares of Ferrari by 27.2% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 103 shares of the company’s stock valued at $48,000 after acquiring an additional 22 shares during the last quarter. Contravisory Investment Management Inc. increased its stake in Ferrari by 4.6% in the second quarter. Contravisory Investment Management Inc. now owns 518 shares of the company’s stock valued at $212,000 after purchasing an additional 23 shares during the last quarter. First Citizens Bank & Trust Co. raised its holdings in Ferrari by 3.3% during the second quarter. First Citizens Bank & Trust Co. now owns 787 shares of the company’s stock worth $321,000 after purchasing an additional 25 shares in the last quarter. Columbia Asset Management lifted its position in shares of Ferrari by 1.8% during the 2nd quarter. Columbia Asset Management now owns 1,425 shares of the company’s stock worth $582,000 after buying an additional 25 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Ferrari by 12.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 243 shares of the company’s stock valued at $101,000 after buying an additional 27 shares in the last quarter.

Ferrari Stock Performance

NYSE:RACE opened at $482.44 on Thursday. Ferrari has a 12-month low of $296.34 and a 12-month high of $498.23. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.35 and a quick ratio of 3.32. The stock’s 50 day simple moving average is $472.13 and its 200-day simple moving average is $436.82.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.08. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the company posted $1.99 EPS. Ferrari’s revenue was up 16.1% compared to the same quarter last year. As a group, analysts expect that Ferrari will post 8.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RACE has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Morgan Stanley upped their target price on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Evercore ISI lifted their price target on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Ferrari presently has an average rating of “Moderate Buy” and a consensus target price of $502.14.

Ferrari Company 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.