Ferrari (NYSE:RACE) Shares Sold by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC cut its stake in shares of Ferrari (NYSE:RACE) by 19.5% in the 4th quarter, Holdings Channel reports. The firm owned 5,529 shares of the company’s stock after selling 1,336 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Ferrari were worth $2,349,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of Ferrari by 41.4% during the fourth quarter. Blue Trust Inc. now owns 1,220 shares of the company’s stock valued at $574,000 after buying an additional 357 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new position in shares of Ferrari during the 4th quarter valued at about $464,000. Linden Thomas Advisory Services LLC grew its position in Ferrari by 26.0% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 998 shares of the company’s stock worth $424,000 after buying an additional 206 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Ferrari by 9.8% in the 4th quarter. Fifth Third Bancorp now owns 393 shares of the company’s stock worth $167,000 after acquiring an additional 35 shares during the last quarter. Finally, Bennett Selby Investments LP acquired a new stake in Ferrari during the 4th quarter worth about $502,000.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RACE. 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 research note on Tuesday, October 22nd. UBS Group lifted their price objective on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $385.00 to $525.00 in a research report on Friday, October 11th. Finally, StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Stock Up 0.5 %

RACE opened at $432.26 on Monday. Ferrari has a fifty-two week low of $330.15 and a fifty-two week high of $498.23. The company has a market capitalization of $105.36 billion, a P/E ratio of 50.20, a P/E/G ratio of 3.70 and a beta of 0.95. 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 firm’s fifty day moving average price is $433.73 and its two-hundred day moving average price is $448.62.

Ferrari (NYSE:RACE) last issued its 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 company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.98 earnings per share. On average, analysts anticipate that Ferrari will post 8.59 EPS for the current year.

About Ferrari

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.