Benchmark Financial Wealth Advisors LLC Has $419,000 Holdings in Ferrari (NYSE:RACE)

Benchmark Financial Wealth Advisors LLC lessened its holdings in Ferrari (NYSE:RACE) by 8.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 987 shares of the company’s stock after selling 90 shares during the period. Benchmark Financial Wealth Advisors LLC’s holdings in Ferrari were worth $419,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. grew its stake in Ferrari by 27.2% during the third quarter. Jamison Private Wealth Management Inc. now owns 103 shares of the company’s stock worth $48,000 after buying an additional 22 shares in the last quarter. Elite Wealth Management Inc. boosted its stake in shares of Ferrari by 1.0% during 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. Addison Advisors LLC increased its stake in shares of Ferrari by 13.6% in the third quarter. Addison Advisors LLC now owns 217 shares of the company’s stock valued at $102,000 after buying an additional 26 shares during the period. Marshall Financial Group LLC boosted its position in Ferrari by 1.1% during the 3rd quarter. Marshall Financial Group LLC now owns 2,732 shares of the company’s stock worth $1,284,000 after buying an additional 30 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its position in Ferrari by 10.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock valued at $140,000 after acquiring an additional 30 shares during the period.

Ferrari Stock Performance

Shares of RACE stock opened at $464.54 on Thursday. 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 has a 52 week low of $373.79 and a 52 week high of $498.23. The firm has a 50 day moving average of $434.09 and a 200-day moving average of $449.06. The company has a market cap of $113.23 billion, a price-to-earnings ratio of 53.95, a price-to-earnings-growth ratio of 3.72 and a beta of 0.95.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.03). The company had revenue of $1.64 billion during 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 revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the firm posted $1.98 earnings per share. On average, equities analysts forecast that Ferrari will post 8.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RACE has been the subject of several analyst reports. UBS Group raised their target price on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. Evercore ISI increased their target price on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $385.00 to $525.00 in a report on Friday, October 11th. Finally, StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Ferrari has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari 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.