Ferrari (NYSE:RACE) Stock Holdings Lowered by Walkner Condon Financial Advisors LLC

Walkner Condon Financial Advisors LLC trimmed its holdings in shares of Ferrari (NYSE:RACE) by 12.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 437 shares of the company’s stock after selling 63 shares during the quarter. Walkner Condon Financial Advisors LLC’s holdings in Ferrari were worth $205,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new stake in shares of Ferrari during the 2nd quarter valued at $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Ferrari during the third quarter valued at $29,000. Valley Wealth Managers Inc. purchased a new stake in shares of Ferrari during the second quarter valued at $33,000. Denver PWM LLC acquired a new position in shares of Ferrari in the 2nd quarter valued at $35,000. Finally, FSC Wealth Advisors LLC purchased a new position in Ferrari in the 3rd quarter worth about $47,000.

Ferrari Trading Up 2.3 %

Shares of RACE opened at $453.05 on Friday. The firm’s 50 day moving average price is $472.17 and its 200 day moving average price is $440.93. Ferrari has a twelve month low of $330.15 and a twelve month high of $498.23. The company has a quick ratio of 3.32, a current ratio of 4.35 and a debt-to-equity ratio of 1.01.

Ferrari (NYSE:RACE) last posted its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the firm posted $1.98 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities research analysts forecast that Ferrari will post 8.65 EPS for the current year.

Wall Street Analysts Forecast Growth

RACE has been the subject of a number of analyst reports. UBS Group raised their target price on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. Morgan Stanley boosted their target price on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Evercore ISI raised their target price on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $507.14.

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.