Choreo LLC Sells 457 Shares of Ferrari (NYSE:RACE)

Choreo LLC reduced its position in Ferrari (NYSE:RACE) by 9.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,420 shares of the company’s stock after selling 457 shares during the quarter. Choreo LLC’s holdings in Ferrari were worth $1,886,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of RACE. AQR Capital Management LLC bought a new stake in shares of Ferrari in the 2nd quarter valued at about $228,000. Marcum Wealth LLC boosted its stake in Ferrari by 8.1% in the 3rd quarter. Marcum Wealth LLC now owns 988 shares of the company’s stock worth $464,000 after purchasing an additional 74 shares in the last quarter. Wedmont Private Capital acquired a new stake in Ferrari in the 3rd quarter worth approximately $214,000. Clarius Group LLC acquired a new stake in Ferrari in the 3rd quarter worth approximately $207,000. Finally, Valeo Financial Advisors LLC boosted its stake in Ferrari by 14.3% in the 3rd quarter. Valeo Financial Advisors LLC now owns 1,098 shares of the company’s stock worth $516,000 after purchasing an additional 137 shares in the last quarter.

Analyst Upgrades and Downgrades

RACE has been the subject of a number of recent analyst reports. Evercore ISI lifted their target price on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $385.00 to $525.00 in a research note on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a report on Thursday. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Stock Down 3.3 %

Ferrari stock opened at $446.27 on Friday. The firm has a market cap of $108.78 billion, a price-to-earnings ratio of 51.83, a price-to-earnings-growth ratio of 3.72 and a beta of 0.95. Ferrari has a 52 week low of $375.31 and a 52 week high of $498.23. The business’s 50-day moving average price is $435.35 and its 200 day moving average price is $449.25. 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 (NYSE:RACE) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). The business 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 revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.98 EPS. As a group, sell-side analysts anticipate that Ferrari will post 8.59 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.