Ferrari N.V. $RACE Holdings Lessened by Cornerstone Advisors LLC

Cornerstone Advisors LLC decreased its position in shares of Ferrari N.V. (NYSE:RACE) by 55.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,983 shares of the company’s stock after selling 13,672 shares during the quarter. Cornerstone Advisors LLC’s holdings in Ferrari were worth $4,315,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of RACE. Anchor Investment Management LLC increased its holdings in Ferrari by 1,625.0% in the 2nd quarter. Anchor Investment Management LLC now owns 69 shares of the company’s stock worth $26,000 after buying an additional 65 shares during the period. Gen Wealth Partners Inc acquired a new stake in Ferrari during the 3rd quarter valued at approximately $31,000. Dunhill Financial LLC acquired a new stake in Ferrari during the 2nd quarter valued at approximately $38,000. Ameritas Advisory Services LLC acquired a new stake in Ferrari during the 2nd quarter valued at approximately $38,000. Finally, Grove Bank & Trust boosted its holdings in shares of Ferrari by 51.5% in the 3rd quarter. Grove Bank & Trust now owns 100 shares of the company’s stock valued at $39,000 after acquiring an additional 34 shares during the last quarter.

Analyst Upgrades and Downgrades

RACE has been the topic of a number of research reports. Citigroup reiterated a “neutral” rating on shares of Ferrari in a research note on Monday, August 3rd. Berenberg Bank restated a “buy” rating on shares of Ferrari in a research report on Monday, September 28th. Sanford C. Bernstein restated a “buy” rating on shares of Ferrari in a research report on Tuesday, September 29th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Ferrari in a report on Tuesday, August 11th. Finally, Needham & Company LLC raised Ferrari to a “neutral” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Ferrari currently has a consensus rating of “Moderate Buy” and a consensus price target of $456.71.

Ferrari Stock Up 1.3%

RACE stock opened at $410.69 on Friday. Ferrari N.V. has a one year low of $312.51 and a one year high of $437.15. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.81 and a current ratio of 4.94. The firm’s fifty day moving average is $402.63 and its 200 day moving average is $372.95. The firm has a market cap of $96.08 billion, a PE ratio of 37.06, a P/E/G ratio of 3.62 and a beta of 0.89.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.10. Ferrari had a net margin of 22.55% and a return on equity of 43.71%. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the firm posted $2.14 earnings per share. The company’s revenue was up 7.4% compared to the same quarter last year. On average, research analysts forecast that Ferrari N.V. will post 11.17 EPS for the current year.

Ferrari Company Profile

Ferrari N.V. designs, manufactures and sells luxury sports cars under the Ferrari brand. Based in Maranello, Italy, the company offers a range of road cars, including series-production models, special-series vehicles and limited-edition cars, with customization options for clients. Ferrari also operates a motorsports business centered on its racing heritage. Scuderia Ferrari competes in Formula One and other racing series, while the company organizes customer racing programs and events. In addition to cars and racing, Ferrari develops and licenses branded merchandise and lifestyle products.