Crossmark Global Holdings Inc. Sells 338 Shares of Ferrari (NYSE:RACE)

Crossmark Global Holdings Inc. cut its stake in shares of Ferrari (NYSE:RACE) by 7.4% in the 4th quarter, HoldingsChannel reports. The firm owned 4,244 shares of the company’s stock after selling 338 shares during the period. Crossmark Global Holdings Inc.’s holdings in Ferrari were worth $1,803,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Cerity Partners LLC lifted its position in Ferrari by 14.0% during the third quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock valued at $12,653,000 after purchasing an additional 3,308 shares during the last quarter. Miracle Mile Advisors LLC lifted its holdings in shares of Ferrari by 123.9% in the 4th quarter. Miracle Mile Advisors LLC now owns 9,005 shares of the company’s stock worth $3,826,000 after acquiring an additional 4,983 shares during the last quarter. Rheos Capital Works Inc. lifted its holdings in shares of Ferrari by 30.3% in the 3rd quarter. Rheos Capital Works Inc. now owns 111,700 shares of the company’s stock worth $52,511,000 after acquiring an additional 26,000 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Ferrari by 1.4% in the 3rd quarter. Raymond James & Associates now owns 50,940 shares of the company’s stock worth $23,948,000 after acquiring an additional 693 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Ferrari by 60.0% in the 3rd quarter. Franklin Resources Inc. now owns 22,055 shares of the company’s stock worth $10,707,000 after acquiring an additional 8,267 shares during the last quarter.

Ferrari Stock Down 0.6 %

Shares of Ferrari stock opened at $429.91 on Friday. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The company’s fifty day simple moving average is $433.91 and its two-hundred day simple moving average is $448.46. The company has a market cap of $104.79 billion, a P/E ratio of 49.93, a PEG ratio of 3.77 and a beta of 0.95. Ferrari has a 12-month low of $330.15 and a 12-month high of $498.23.

Ferrari (NYSE:RACE) last issued its quarterly earnings data 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). 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 revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.98 earnings per share. Research analysts anticipate that Ferrari will post 8.59 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RACE shares. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Evercore ISI boosted 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, October 22nd. 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 note on Friday, October 11th. Finally, UBS Group lifted their target price on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.