Ferrari (NYSE:RACE) Shares Sold by Catalytic Wealth RIA LLC

Catalytic Wealth RIA LLC lessened its position in Ferrari (NYSE:RACE) by 2.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 924 shares of the company’s stock after selling 27 shares during the period. Catalytic Wealth RIA LLC’s holdings in Ferrari were worth $434,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in RACE. International Assets Investment Management LLC lifted its stake in shares of Ferrari by 47,023.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock worth $5,551,600,000 after acquiring an additional 1,178,410 shares during the period. Capital International Investors lifted its stake in shares of Ferrari by 314.3% in the 1st quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock worth $454,792,000 after acquiring an additional 791,596 shares during the period. Marshall Wace LLP lifted its stake in shares of Ferrari by 108.4% in the 2nd quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock worth $361,961,000 after acquiring an additional 461,409 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Ferrari by 6,024.9% in the 1st quarter. Clearbridge Investments LLC now owns 380,910 shares of the company’s stock worth $166,054,000 after acquiring an additional 374,691 shares during the period. Finally, Capital World Investors lifted its stake in shares of Ferrari by 34.3% in the 1st quarter. Capital World Investors now owns 962,583 shares of the company’s stock worth $419,547,000 after acquiring an additional 245,872 shares during the period.

Analysts Set New Price Targets

Several analysts recently commented on RACE shares. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $385.00 to $525.00 in a research note on Friday, October 11th. Evercore ISI raised their price objective on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Barclays upgraded shares of 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 shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Finally, UBS Group raised their price objective on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Stock Down 0.4 %

Shares of NYSE RACE opened at $452.45 on Tuesday. Ferrari has a 12 month low of $330.15 and a 12 month high of $498.23. The company has a current ratio of 4.57, a quick ratio of 3.32 and a debt-to-equity ratio of 0.93. The company has a 50-day simple moving average of $470.58 and a 200-day simple moving average of $441.59.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.98 earnings per share. Sell-side analysts anticipate that Ferrari will post 8.75 earnings per share for the current 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.