Douglas Lane & Associates LLC Decreases Stake in Ferrari (NYSE:RACE)

Douglas Lane & Associates LLC lessened its stake in shares of Ferrari (NYSE:RACE) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 111,033 shares of the company’s stock after selling 3,034 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.06% of Ferrari worth $47,171,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in RACE. Jennison Associates LLC raised its holdings in Ferrari by 910.1% in the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after purchasing an additional 2,636,869 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Ferrari by 47,023.5% during the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock valued at $5,551,600,000 after buying an additional 1,178,410 shares during the period. Marshall Wace LLP raised its stake in Ferrari by 108.4% in the second quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock worth $361,961,000 after buying an additional 461,409 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in Ferrari by 83.7% in the third quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock worth $108,417,000 after buying an additional 105,390 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Ferrari by 89.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock valued at $103,621,000 after acquiring an additional 104,366 shares in the last quarter.

Wall Street Analysts Forecast Growth

RACE has been the subject of a number of research analyst reports. UBS Group raised their target price on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Evercore ISI boosted their target price on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $385.00 to $525.00 in a research note 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, two have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Stock Up 1.4 %

Shares of NYSE:RACE traded up $5.84 during trading on Wednesday, reaching $433.81. 155,148 shares of the stock traded hands, compared to its average volume of 215,901. The stock has a market cap of $80.15 billion, a P/E ratio of 50.38, a price-to-earnings-growth ratio of 4.26 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The stock has a 50-day moving average of $439.54 and a two-hundred day moving average of $447.54. Ferrari has a 52-week low of $330.15 and a 52-week high of $498.23.

Ferrari (NYSE:RACE) last issued its earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the business posted $1.98 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect that Ferrari will post 8.58 earnings per share for the current fiscal year.

Ferrari Company 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.