KBC Group NV Sells 10,177 Shares of Ferrari N.V. (NYSE:RACE)

KBC Group NV lowered its stake in Ferrari N.V. (NYSE:RACE) by 65.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,410 shares of the company’s stock after selling 10,177 shares during the period. KBC Group NV’s holdings in Ferrari were worth $2,315,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. HBK Sorce Advisory LLC lifted its position in shares of Ferrari by 3.6% in the fourth quarter. HBK Sorce Advisory LLC now owns 626 shares of the company’s stock worth $266,000 after purchasing an additional 22 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of Ferrari by 4.4% in the fourth quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock worth $251,000 after purchasing an additional 25 shares in the last quarter. Garde Capital Inc. lifted its position in shares of Ferrari by 5.0% in the fourth quarter. Garde Capital Inc. now owns 525 shares of the company’s stock worth $223,000 after purchasing an additional 25 shares in the last quarter. PDS Planning Inc lifted its position in shares of Ferrari by 4.8% in the fourth quarter. PDS Planning Inc now owns 589 shares of the company’s stock worth $250,000 after purchasing an additional 27 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Ferrari by 7.9% in the first quarter. Fifth Third Bancorp now owns 424 shares of the company’s stock worth $181,000 after purchasing an additional 31 shares in the last quarter.

Ferrari Price Performance

NYSE:RACE opened at $490.44 on Friday. Ferrari N.V. has a one year low of $391.54 and a one year high of $509.13. The company has a market cap of $118.87 billion, a P/E ratio of 51.90, a P/E/G ratio of 5.59 and a beta of 1.09. The firm’s fifty day moving average price is $477.96 and its two-hundred day moving average price is $455.07. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 4.04.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.36 by $0.06. Ferrari had a net margin of 23.00% and a return on equity of 46.46%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the company posted $1.95 earnings per share. Ferrari’s revenue was up 13.0% compared to the same quarter last year. Equities analysts expect that Ferrari N.V. will post 9.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RACE. UBS Group boosted their target price on shares of Ferrari from $520.00 to $560.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. Wall Street Zen downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a report on Thursday, May 15th. JPMorgan Chase & Co. decreased their price objective on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Finally, Kepler Capital Markets upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 28th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $526.25.

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.