Ferrari (NYSE:RACE) Shares Sold by 180 Wealth Advisors LLC

180 Wealth Advisors LLC trimmed its holdings in shares of Ferrari (NYSE:RACE) by 9.8% during the fourth quarter, Holdings Channel reports. The fund owned 1,134 shares of the company’s stock after selling 123 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Ferrari were worth $482,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of RACE. E Fund Management Hong Kong Co. Ltd. acquired a new position in Ferrari during the 3rd quarter worth $29,000. Planning Capital Management Corp bought a new position in shares of Ferrari during the third quarter worth about $30,000. Ashton Thomas Securities LLC acquired a new position in Ferrari in the third quarter worth about $33,000. FSC Wealth Advisors LLC bought a new stake in Ferrari in the third quarter valued at about $47,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Ferrari during the third quarter valued at approximately $47,000.

Wall Street Analyst Weigh In

RACE has been the subject of several research reports. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upgraded 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. UBS Group boosted their target price on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Evercore ISI raised their price target on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Stock Performance

RACE stock opened at $421.60 on Wednesday. Ferrari has a 1 year low of $330.15 and a 1 year high of $498.23. The stock has a market capitalization of $77.89 billion, a price-to-earnings ratio of 48.97, a PEG 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’s fifty day moving average is $435.31 and its two-hundred day moving average is $447.97.

Ferrari (NYSE:RACE) last posted 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). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the firm earned $1.98 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, research analysts predict that Ferrari will post 8.58 EPS 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.