Ballentine Partners LLC Sells 25 Shares of Ferrari (NYSE:RACE)

Ballentine Partners LLC decreased its holdings in Ferrari (NYSE:RACE) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,648 shares of the company’s stock after selling 25 shares during the period. Ballentine Partners LLC’s holdings in Ferrari were worth $701,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RACE. MassMutual Private Wealth & Trust FSB raised its stake in Ferrari by 10.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock valued at $140,000 after acquiring an additional 30 shares during the period. Ameritas Advisory Services LLC raised its position in shares of Ferrari by 147.5% in the fourth quarter. Ameritas Advisory Services LLC now owns 1,710 shares of the company’s stock valued at $727,000 after purchasing an additional 1,019 shares during the period. Arkadios Wealth Advisors acquired a new stake in shares of Ferrari during the 4th quarter worth about $377,000. Merit Financial Group LLC bought a new stake in shares of Ferrari during the 4th quarter worth about $356,000. Finally, Outlook Wealth Advisors LLC grew its stake in Ferrari by 11.2% in the 4th quarter. Outlook Wealth Advisors LLC now owns 892 shares of the company’s stock valued at $379,000 after buying an additional 90 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RACE shares. Evercore ISI raised their price objective on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. UBS Group upped their price objective on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $385.00 to $525.00 in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ferrari currently has an average rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Stock Performance

NYSE:RACE opened at $432.38 on Thursday. The company has a market cap of $105.39 billion, a price-to-earnings ratio of 50.22, a PEG ratio of 3.73 and a beta of 0.95. Ferrari has a fifty-two week low of $330.15 and a fifty-two week high of $498.23. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The stock has a fifty day moving average price of $434.05 and a 200-day moving average price of $448.58.

Ferrari (NYSE:RACE) last posted its quarterly earnings data 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 firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the company earned $1.98 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities analysts anticipate that Ferrari will post 8.59 EPS for the current fiscal 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.