Linden Thomas Advisory Services LLC Takes Position in Ferrari (NYSE:RACE)

Linden Thomas Advisory Services LLC bought a new position in shares of Ferrari (NYSE:RACE) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 656 shares of the company’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jamison Private Wealth Management Inc. bought a new stake in shares of Ferrari during the fourth quarter worth approximately $27,000. Householder Group Estate & Retirement Specialist LLC boosted its stake in Ferrari by 320.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock valued at $35,000 after purchasing an additional 80 shares during the period. Blue Trust Inc. grew its holdings in Ferrari by 37.0% in the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after buying an additional 30 shares in the last quarter. Allworth Financial LP increased its position in Ferrari by 327.5% during the 3rd quarter. Allworth Financial LP now owns 218 shares of the company’s stock worth $64,000 after buying an additional 167 shares during the period. Finally, Operose Advisors LLC acquired a new stake in shares of Ferrari during the third quarter worth $78,000.

Analysts Set New Price Targets

A number of equities analysts recently commented on RACE shares. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Thursday, April 4th. Bank of America lifted their price target on shares of Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Citigroup downgraded Ferrari from a “neutral” rating to a “sell” rating in a research report on Monday, March 4th. Sanford C. Bernstein lifted their price objective on Ferrari from $448.00 to $512.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Finally, UBS Group upped their target price on Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $413.86.

Ferrari Trading Up 2.5 %

Ferrari stock opened at $422.46 on Friday. Ferrari has a 52 week low of $273.39 and a 52 week high of $442.80. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.91 and a quick ratio of 2.98. The stock has a fifty day moving average of $420.26 and a 200-day moving average of $371.06.

Ferrari (NYSE:RACE) last posted its earnings results on Thursday, February 1st. The company reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.15. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Ferrari had a net margin of 21.06% and a return on equity of 43.84%. Equities research analysts forecast that Ferrari will post 8.31 EPS for the current fiscal year.

Ferrari Announces Dividend

The business also recently declared an annual dividend, which will be paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd will be given a $2.443 dividend. The ex-dividend date of this dividend is Monday, April 22nd. This represents a dividend yield of 0.62%.

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.