Geneva Partners LLC Trims Stock Holdings in Ferrari (NYSE:RACE)

Geneva Partners LLC cut its stake in shares of Ferrari (NYSE:RACE) by 62.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,020 shares of the company’s stock after selling 1,675 shares during the period. Geneva Partners LLC’s holdings in Ferrari were worth $433,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jamison Private Wealth Management Inc. increased its stake in Ferrari by 27.2% in the third quarter. Jamison Private Wealth Management Inc. now owns 103 shares of the company’s stock valued at $48,000 after purchasing an additional 22 shares during the last quarter. Elite Wealth Management Inc. increased its position in Ferrari by 1.0% during the 3rd quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock worth $1,225,000 after purchasing an additional 25 shares in the last quarter. Addison Advisors LLC boosted its holdings in 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 purchasing an additional 26 shares during the last quarter. Marshall Financial Group LLC grew its holdings 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 acquiring an additional 30 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Ferrari by 10.0% during 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 in the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and upped their price target for the company from $385.00 to $525.00 in a report on Friday, October 11th. UBS Group lifted their price objective on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a research note on Thursday. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Ferrari presently has an average rating of “Hold” and a consensus target price of $507.14.

Ferrari Stock Up 1.1 %

Shares of Ferrari stock opened at $464.54 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The firm has a market cap of $113.23 billion, a price-to-earnings ratio of 53.95, a P/E/G ratio of 3.72 and a beta of 0.95. The stock has a 50-day simple moving average of $434.75 and a 200-day simple moving average of $449.16. Ferrari has a 52-week low of $373.79 and a 52-week high of $498.23.

Ferrari (NYSE:RACE) last released its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). The business 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 quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business earned $1.98 EPS. On average, equities research analysts expect that Ferrari will post 8.59 earnings per share for the current fiscal year.

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.