Marshall Financial Group LLC Lowers Holdings in Ferrari (NYSE:RACE)

Marshall Financial Group LLC trimmed its position in shares of Ferrari (NYSE:RACE) by 1.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,696 shares of the company’s stock after selling 36 shares during the quarter. Marshall Financial Group LLC’s holdings in Ferrari were worth $1,145,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RACE. Jennison Associates LLC boosted its stake in Ferrari by 910.1% during the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after purchasing an additional 2,636,869 shares during the last quarter. International Assets Investment Management LLC lifted its holdings 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 purchasing an additional 1,178,410 shares in the last quarter. Quadrature Capital Ltd boosted its position in shares of Ferrari by 83.7% during the third quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock valued at $108,417,000 after buying an additional 105,390 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Ferrari by 89.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock worth $103,621,000 after buying an additional 104,366 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Ferrari by 904.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 110,565 shares of the company’s stock worth $51,968,000 after buying an additional 99,558 shares during the last quarter.

Ferrari Price Performance

NYSE RACE opened at $432.26 on Friday. The business’s fifty day moving average is $433.73 and its 200 day moving average is $448.37. Ferrari has a fifty-two week low of $330.15 and a fifty-two week high of $498.23. 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 company has a market capitalization of $105.36 billion, a PE ratio of 50.20, a price-to-earnings-growth ratio of 3.70 and a beta of 0.95.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.98 earnings per share. Sell-side analysts predict that Ferrari will post 8.59 earnings per share for the current year.

Analysts Set New Price Targets

RACE has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of 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 lifted their target price for the stock from $385.00 to $525.00 in a research report on Friday, October 11th. UBS Group increased their price target on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Evercore ISI lifted their price objective on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ferrari presently has an average rating of “Moderate Buy” and an average price target of $507.14.

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.