Mount Yale Investment Advisors LLC Sells 837 Shares of Ferrari (NYSE:RACE)

Mount Yale Investment Advisors LLC reduced its holdings in Ferrari (NYSE:RACE) by 10.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,865 shares of the company’s stock after selling 837 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Ferrari were worth $3,227,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RACE. Jamison Private Wealth Management Inc. increased its position in Ferrari by 27.2% during the 3rd 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 period. Contravisory Investment Management Inc. lifted its holdings in Ferrari by 4.6% in the second quarter. Contravisory Investment Management Inc. now owns 518 shares of the company’s stock worth $212,000 after buying an additional 23 shares during the period. First Citizens Bank & Trust Co. boosted its position in Ferrari by 3.3% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 787 shares of the company’s stock valued at $321,000 after acquiring an additional 25 shares in the last quarter. Columbia Asset Management grew its holdings in shares of Ferrari by 1.8% during the 2nd quarter. Columbia Asset Management now owns 1,425 shares of the company’s stock worth $582,000 after acquiring an additional 25 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of Ferrari by 12.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 243 shares of the company’s stock worth $101,000 after acquiring an additional 27 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RACE. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Evercore ISI upped their price objective on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday. Morgan Stanley lifted their target price on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Finally, StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Ferrari has a consensus rating of “Moderate Buy” and a consensus price target of $502.14.

Ferrari Trading Up 0.8 %

Shares of RACE opened at $486.43 on Friday. Ferrari has a 52 week low of $296.34 and a 52 week high of $498.23. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.32 and a current ratio of 4.35. The business has a 50-day simple moving average of $472.13 and a two-hundred day simple moving average of $436.82.

Ferrari (NYSE:RACE) last released its earnings results on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.08. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the business posted $1.99 earnings per share. The firm’s revenue was up 16.1% on a year-over-year basis. As a group, analysts predict that Ferrari will post 8.65 earnings per share for the current 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.