Catalytic Wealth RIA LLC Cuts Stake in Ferrari (NYSE:RACE)

Catalytic Wealth RIA LLC lowered its stake in shares of Ferrari (NYSE:RACE) by 2.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of RACE. International Assets Investment Management LLC increased its stake in shares of Ferrari by 47,023.5% during the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock worth $5,551,600,000 after purchasing an additional 1,178,410 shares in the last quarter. Capital International Investors grew its stake in Ferrari by 314.3% during the 1st quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock valued at $454,792,000 after acquiring an additional 791,596 shares in the last quarter. Marshall Wace LLP grew its stake in Ferrari by 108.4% during the 2nd quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock valued at $361,961,000 after acquiring an additional 461,409 shares in the last quarter. Clearbridge Investments LLC grew its stake in Ferrari by 6,024.9% during the 1st quarter. Clearbridge Investments LLC now owns 380,910 shares of the company’s stock valued at $166,054,000 after acquiring an additional 374,691 shares in the last quarter. Finally, Capital World Investors grew its stake in Ferrari by 34.3% during the 1st quarter. Capital World Investors now owns 962,583 shares of the company’s stock valued at $419,547,000 after acquiring an additional 245,872 shares in the last quarter.

Ferrari Stock Down 0.4 %

Shares of RACE opened at $452.45 on Tuesday. Ferrari has a fifty-two week low of $330.15 and a fifty-two week high of $498.23. The firm’s 50 day moving average price is $470.58 and its 200 day moving average price is $441.59. The company has a quick ratio of 3.32, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

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

Wall Street Analysts Forecast Growth

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

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.