Ferrari (NYSE:RACE) Stake Decreased by Boston Family Office LLC

Boston Family Office LLC lessened its holdings in shares of Ferrari (NYSE:RACE) by 7.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 582 shares of the company’s stock after selling 50 shares during the period. Boston Family Office LLC’s holdings in Ferrari were worth $274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RACE. E Fund Management Hong Kong Co. Ltd. bought a new stake in Ferrari during the third quarter worth approximately $29,000. Planning Capital Management Corp bought a new stake in Ferrari during the third quarter worth approximately $30,000. Rothschild Investment LLC bought a new stake in Ferrari during the second quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new stake in Ferrari during the third quarter worth approximately $33,000. Finally, Valley Wealth Managers Inc. bought a new stake in Ferrari during the second quarter worth approximately $33,000.

Ferrari Trading Down 0.5 %

Ferrari stock opened at $435.24 on Tuesday. The company’s fifty day simple moving average is $461.73 and its 200-day simple moving average is $443.05. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a 12 month low of $330.15 and a 12 month high of $498.23. The stock has a market cap of $80.41 billion, a P/E ratio of 50.55, a P/E/G ratio of 4.07 and a beta of 0.99.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the firm earned $1.98 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts forecast that Ferrari will post 8.66 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on RACE shares. Evercore ISI upped their price target on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Morgan Stanley upped their price target on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group lifted their price objective on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $385.00 to $525.00 in a research report on Friday, October 11th. One equities 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 MarketBeat.com, Ferrari currently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

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.