Ferrari (NYSE:RACE) Stock Position Lowered by Wilkinson Global Asset Management LLC

Wilkinson Global Asset Management LLC lowered its position in shares of Ferrari (NYSE:RACE) by 16.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,285 shares of the company’s stock after selling 1,600 shares during the quarter. Wilkinson Global Asset Management LLC’s holdings in Ferrari were worth $3,383,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in shares of Ferrari by 3,806.5% in the second quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock valued at $528,000 after buying an additional 1,180 shares in the last quarter. Logan Capital Management Inc. lifted its holdings in shares of Ferrari by 1.9% during the fourth quarter. Logan Capital Management Inc. now owns 4,668 shares of the company’s stock valued at $1,580,000 after purchasing an additional 87 shares during the last quarter. Raymond James & Associates boosted its position in shares of Ferrari by 1.3% in the 2nd quarter. Raymond James & Associates now owns 50,247 shares of the company’s stock valued at $20,519,000 after purchasing an additional 655 shares during the period. Vanguard Group Inc. increased its stake in Ferrari by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 4,488,346 shares of the company’s stock worth $1,518,991,000 after purchasing an additional 46,938 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Ferrari by 10.5% during the 1st quarter. Jennison Associates LLC now owns 266,608 shares of the company’s stock worth $116,225,000 after buying an additional 25,228 shares during the period.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley raised their target price on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. UBS Group lifted their price objective on shares of Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Finally, Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $481.67.

Ferrari Stock Down 1.4 %

Shares of Ferrari stock traded down $6.45 on Friday, hitting $470.70. 287,075 shares of the company traded hands, compared to its average volume of 273,277. The company has a quick ratio of 3.32, a current ratio of 4.35 and a debt-to-equity ratio of 1.01. Ferrari has a 12-month low of $285.02 and a 12-month high of $498.23. The company has a 50-day moving average price of $441.74 and a 200 day moving average price of $426.53. The company has a market cap of $86.96 billion, a PE ratio of 60.11, a PEG ratio of 5.24 and a beta of 1.00.

Ferrari (NYSE:RACE) last issued its earnings results on Thursday, August 1st. The company reported $2.29 EPS for the quarter, beating 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 firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the company posted $1.99 earnings per share. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. Sell-side analysts predict that Ferrari will post 8.71 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.