American Trust Sells 200 Shares of Ferrari (NYSE:RACE)

American Trust decreased its holdings in shares of Ferrari (NYSE:RACE) by 14.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,176 shares of the company’s stock after selling 200 shares during the period. American Trust’s holdings in Ferrari were worth $513,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Logan Capital Management Inc. boosted its holdings in Ferrari by 1.9% in the fourth quarter. Logan Capital Management Inc. now owns 4,668 shares of the company’s stock worth $1,580,000 after acquiring an additional 87 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Ferrari by 1.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 4,247 shares of the company’s stock worth $1,437,000 after acquiring an additional 40 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Ferrari by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 4,488,346 shares of the company’s stock worth $1,518,991,000 after acquiring an additional 46,938 shares in the last quarter. Jennison Associates LLC boosted its holdings in Ferrari by 10.5% in the first quarter. Jennison Associates LLC now owns 266,608 shares of the company’s stock worth $116,225,000 after acquiring an additional 25,228 shares in the last quarter. Finally, Capital Wealth Planning LLC boosted its holdings in Ferrari by 127.6% in the first quarter. Capital Wealth Planning LLC now owns 7,511 shares of the company’s stock worth $3,274,000 after acquiring an additional 4,211 shares in the last quarter.

Ferrari Stock Performance

RACE stock traded up $11.97 during midday trading on Friday, hitting $433.59. The company’s stock had a trading volume of 535,440 shares, compared to its average volume of 199,675. The stock’s 50-day moving average price is $417.91 and its 200 day moving average price is $409.69. The company has a quick ratio of 3.25, a current ratio of 4.18 and a debt-to-equity ratio of 0.80. Ferrari has a 1 year low of $285.02 and a 1 year high of $442.80.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.08. Ferrari had a return on equity of 45.20% and a net margin of 21.84%. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.73 billion. As a group, research analysts predict that Ferrari will post 8.51 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley reiterated an “overweight” rating and issued a $400.00 price target on shares of Ferrari in a report on Monday, April 22nd. Jefferies Financial Group initiated coverage on Ferrari in a report on Friday, May 10th. They issued a “hold” rating and a $403.00 target price on the stock. Evercore ISI raised their target price on Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday. Finally, UBS Group raised their target price on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $461.67.

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.