Sage Rhino Capital LLC Has $257,000 Stock Position in Ferrari (NYSE:RACE)

Sage Rhino Capital LLC lowered its holdings in shares of Ferrari (NYSE:RACE) by 4.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 630 shares of the company’s stock after selling 30 shares during the period. Sage Rhino Capital LLC’s holdings in Ferrari were worth $257,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in Ferrari in the fourth quarter worth approximately $480,000. CWM LLC boosted its holdings in Ferrari by 9.5% in the fourth quarter. CWM LLC now owns 530 shares of the company’s stock worth $179,000 after acquiring an additional 46 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in Ferrari by 6.9% in the fourth quarter. Yousif Capital Management LLC now owns 3,420 shares of the company’s stock worth $1,157,000 after acquiring an additional 220 shares in the last quarter. Truist Financial Corp boosted its holdings in Ferrari by 11.4% in the fourth quarter. Truist Financial Corp now owns 13,970 shares of the company’s stock worth $4,728,000 after acquiring an additional 1,432 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Ferrari in the fourth quarter worth approximately $43,000.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. Morgan Stanley raised their target price on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Jefferies Financial Group assumed coverage on Ferrari in a report on Friday, May 10th. They issued a “hold” rating and a $403.00 target price on the stock. Finally, UBS Group raised their target price on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $481.67.

Ferrari Stock Performance

NYSE:RACE traded up $6.20 during trading hours on Friday, reaching $496.79. The stock had a trading volume of 227,000 shares, compared to its average volume of 273,278. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.32 and a current ratio of 4.35. The stock has a 50 day simple moving average of $433.24 and a 200 day simple moving average of $422.10. Ferrari has a 12-month low of $285.02 and a 12-month high of $496.79. The stock has a market cap of $91.78 billion, a P/E ratio of 63.45, a price-to-earnings-growth ratio of 4.85 and a beta of 0.99.

Ferrari (NYSE:RACE) last released its earnings results on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.08. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the business posted $1.99 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, research analysts forecast that Ferrari will post 8.71 EPS for the current fiscal 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.