Aureus Asset Management LLC Sells 23 Shares of Ferrari (NYSE:RACE)

Aureus Asset Management LLC lessened its stake in Ferrari (NYSE:RACE) by 4.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 539 shares of the company’s stock after selling 23 shares during the quarter. Aureus Asset Management LLC’s holdings in Ferrari were worth $253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Fred Alger Management LLC lifted its position in shares of Ferrari by 15.7% in the third quarter. Fred Alger Management LLC now owns 38,490 shares of the company’s stock worth $18,095,000 after buying an additional 5,235 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Ferrari during the 3rd quarter worth approximately $4,988,000. Icon Wealth Advisors LLC boosted its position in shares of Ferrari by 8.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 436 shares of the company’s stock valued at $205,000 after acquiring an additional 34 shares during the last quarter. Elite Wealth Management Inc. grew its holdings in shares of Ferrari by 1.0% in the third quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock valued at $1,225,000 after purchasing an additional 25 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its stake in Ferrari by 23.4% during the third quarter. Public Sector Pension Investment Board now owns 65,365 shares of the company’s stock valued at $30,617,000 after purchasing an additional 12,411 shares in the last quarter.

Ferrari Trading Up 0.7 %

RACE opened at $437.40 on Tuesday. The business has a fifty day moving average of $459.00 and a 200 day moving average of $443.68. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a 52-week low of $330.15 and a 52-week high of $498.23.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 earnings per share 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 the consensus estimate of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.98 EPS. As a group, equities analysts predict that Ferrari will post 8.58 EPS for the current fiscal year.

Analysts Set New Price Targets

RACE has been the subject of a number of recent research reports. Evercore ISI lifted their price objective on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Morgan Stanley lifted their price target on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, UBS Group lifted their target price on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.