Journey Strategic Wealth LLC Has $270,000 Stake in Ferrari (NYSE:RACE)

Journey Strategic Wealth LLC decreased its position in Ferrari (NYSE:RACE) by 39.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 636 shares of the company’s stock after selling 406 shares during the quarter. Journey Strategic Wealth LLC’s holdings in Ferrari were worth $270,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Caprock Group LLC grew its position in Ferrari by 16.3% during the fourth quarter. Caprock Group LLC now owns 2,121 shares of the company’s stock worth $903,000 after buying an additional 298 shares in the last quarter. Cibc World Market Inc. lifted its stake in Ferrari by 31.0% during the fourth quarter. Cibc World Market Inc. now owns 33,121 shares of the company’s stock worth $14,215,000 after purchasing an additional 7,844 shares during the last quarter. Mediolanum International Funds Ltd lifted its stake in Ferrari by 24.7% during the fourth quarter. Mediolanum International Funds Ltd now owns 9,071 shares of the company’s stock worth $3,874,000 after purchasing an additional 1,796 shares during the last quarter. Crews Bank & Trust bought a new stake in Ferrari during the fourth quarter worth $281,000. Finally, First Affirmative Financial Network lifted its stake in Ferrari by 14.9% during the fourth quarter. First Affirmative Financial Network now owns 695 shares of the company’s stock worth $295,000 after purchasing an additional 90 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have weighed in on RACE shares. JPMorgan Chase & Co. upgraded 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 note on Friday, October 11th. Evercore ISI upped their target price on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. UBS Group upped their target price on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Stock Performance

NYSE RACE opened at $429.37 on Tuesday. The company has a market capitalization of $104.66 billion, a price-to-earnings ratio of 49.87, a PEG ratio of 3.72 and a beta of 0.95. Ferrari has a twelve month low of $368.80 and a twelve month high of $498.23. The stock has a fifty day simple moving average of $433.65 and a 200 day simple moving average of $448.70. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE) last posted 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 during the quarter, compared to analyst estimates of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.98 earnings per share. Sell-side analysts expect 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.