SG Americas Securities LLC Sells 6,263 Shares of Ferrari (NYSE:RACE)

SG Americas Securities LLC decreased its holdings in Ferrari (NYSE:RACE) by 73.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,298 shares of the company’s stock after selling 6,263 shares during the period. SG Americas Securities LLC’s holdings in Ferrari were worth $976,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. E Fund Management Hong Kong Co. Ltd. bought a new stake in Ferrari in the third quarter valued at approximately $29,000. Planning Capital Management Corp purchased a new position in shares of Ferrari in the third quarter worth $30,000. Ashton Thomas Securities LLC purchased a new position in shares of Ferrari in the third quarter worth $33,000. Armstrong Advisory Group Inc. raised its holdings in Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after buying an additional 50 shares during the last quarter. Finally, FSC Wealth Advisors LLC purchased a new stake in Ferrari during the 3rd quarter valued at $47,000.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $385.00 to $525.00 in a research note on Friday, October 11th. UBS Group increased their price objective on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Evercore ISI boosted their target price on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. One 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Stock Down 0.2 %

Shares of RACE stock opened at $431.27 on Wednesday. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 12 month low of $338.73 and a 12 month high of $498.23. The stock has a market cap of $105.12 billion, a P/E ratio of 50.09, a P/E/G ratio of 3.70 and a beta of 0.95. The company has a 50 day simple moving average of $433.68 and a two-hundred day simple moving average of $448.65.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the firm posted $1.98 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, research analysts expect that Ferrari will post 8.59 earnings per share for the current year.

Ferrari Company 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.