Baskin Financial Services Inc. Has $47.46 Million Holdings in Ferrari (NYSE:RACE)

Baskin Financial Services Inc. decreased its position in Ferrari (NYSE:RACE) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,713 shares of the company’s stock after selling 1,368 shares during the quarter. Ferrari comprises approximately 3.8% of Baskin Financial Services Inc.’s investment portfolio, making the stock its 12th biggest position. Baskin Financial Services Inc.’s holdings in Ferrari were worth $47,460,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in Ferrari in the 3rd quarter valued at about $29,000. Hanson & Doremus Investment Management acquired a new stake in shares of Ferrari in the fourth quarter valued at approximately $26,000. Planning Capital Management Corp bought a new stake in shares of Ferrari in the third quarter valued at approximately $30,000. Ashton Thomas Securities LLC bought a new stake in shares of Ferrari in the third quarter valued at approximately $33,000. Finally, FSC Wealth Advisors LLC acquired a new stake in Ferrari during the third quarter worth approximately $47,000.

Ferrari Stock Down 0.6 %

RACE stock opened at $429.35 on Monday. The firm has a 50-day moving average price of $433.65 and a 200-day moving average price of $448.51. Ferrari has a 12 month low of $345.92 and a 12 month high of $498.23. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $104.65 billion, a P/E ratio of 49.87, a price-to-earnings-growth ratio of 3.72 and a beta of 0.95.

Ferrari (NYSE:RACE) last released its quarterly earnings data 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 for 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%. Ferrari’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.98 earnings per share. As a group, equities research analysts anticipate that Ferrari will post 8.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RACE has been the subject of a number of recent analyst reports. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group boosted their price target on 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. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. Finally, Evercore ISI raised 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. One research 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 data from MarketBeat, Ferrari presently has a consensus rating of “Moderate Buy” and a consensus price target of $507.14.

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.