Callan Capital LLC Purchases Shares of 468 Ferrari (NYSE:RACE)

Callan Capital LLC bought a new position in shares of Ferrari (NYSE:RACEFree Report) in the first quarter, Holdings Channel reports. The firm bought 468 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors have also modified their holdings of RACE. Norges Bank purchased a new stake in shares of Ferrari during the 4th quarter worth about $572,523,000. International Assets Investment Management LLC purchased a new stake in shares of Ferrari during the 4th quarter worth about $162,296,000. Alphinity Investment Management Pty Ltd lifted its position in Ferrari by 73.7% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 924,662 shares of the company’s stock worth $311,740,000 after acquiring an additional 392,401 shares in the last quarter. Mackenzie Financial Corp lifted its position in Ferrari by 172.8% during the 4th quarter. Mackenzie Financial Corp now owns 329,927 shares of the company’s stock worth $111,508,000 after acquiring an additional 208,966 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Ferrari by 44.8% during the 3rd quarter. Deutsche Bank AG now owns 591,378 shares of the company’s stock worth $174,776,000 after acquiring an additional 183,000 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RACE. Jefferies Financial Group began coverage on Ferrari in a research report on Friday, May 10th. They set a “hold” rating and a $403.00 price target on the stock. Sanford C. Bernstein boosted their price target on Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Morgan Stanley reissued an “overweight” rating and set a $400.00 price target on shares of Ferrari in a research report on Monday, April 22nd. Finally, Evercore ISI boosted their price target on Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Ferrari presently has an average rating of “Hold” and a consensus target price of $461.67.

Check Out Our Latest Report on RACE

Ferrari Stock Performance

Shares of Ferrari stock traded up $8.76 on Wednesday, hitting $435.05. 129,440 shares of the company’s stock traded hands, compared to its average volume of 277,533. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.25 and a current ratio of 4.18. The firm’s 50-day moving average is $415.60 and its 200 day moving average is $399.98. Ferrari has a 52-week low of $285.02 and a 52-week high of $442.80.

Ferrari (NYSE:RACEGet Free Report) last released its earnings results on Tuesday, May 7th. The company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.04 by $0.08. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Ferrari had a return on equity of 43.94% and a net margin of 21.42%. As a group, equities analysts predict that Ferrari will post 8.2 EPS for the current fiscal year.

Ferrari Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd were paid a dividend of $2.443 per share. This represents a yield of 0.62%. The ex-dividend date of this dividend was Monday, April 22nd.

Ferrari Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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