Geneva Partners LLC Sells 1,675 Shares of Ferrari (NYSE:RACE)

Geneva Partners LLC trimmed its position in shares of Ferrari (NYSE:RACE) by 62.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,020 shares of the company’s stock after selling 1,675 shares during the quarter. Geneva Partners LLC’s holdings in Ferrari were worth $433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Hanson & Doremus Investment Management bought a new position in Ferrari during the 4th quarter valued at about $26,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Ferrari during the third quarter valued at approximately $29,000. Planning Capital Management Corp purchased a new stake in shares of Ferrari in the third quarter worth approximately $30,000. Ashton Thomas Securities LLC bought a new stake in shares of Ferrari during the 3rd quarter worth approximately $33,000. Finally, Armstrong Advisory Group Inc. lifted its stake in shares of Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after acquiring an additional 50 shares during the last quarter.

Wall Street Analysts Forecast Growth

RACE has been the subject of a number of recent analyst reports. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a report on Thursday. They set a “hold” rating on the stock. JPMorgan Chase & Co. raised 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 report on Friday, October 11th. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, UBS Group raised their price objective on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $507.14.

Ferrari Price Performance

NYSE RACE opened at $464.54 on Thursday. The stock’s fifty day moving average price is $434.75 and its 200 day moving average price is $449.16. Ferrari has a 1 year low of $373.79 and a 1 year high of $498.23. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The company has a market cap of $113.23 billion, a price-to-earnings ratio of 53.95, a PEG ratio of 3.72 and a beta of 0.95.

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). The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. Ferrari’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.98 earnings per share. As a group, equities research analysts forecast that Ferrari will post 8.59 earnings per share for the current year.

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.