Ferrari (NYSE:RACE) Shares Sold by Atria Investments Inc

Atria Investments Inc decreased its holdings in shares of Ferrari (NYSE:RACE) by 14.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,738 shares of the company’s stock after selling 1,152 shares during the period. Atria Investments Inc’s holdings in Ferrari were worth $3,168,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in RACE. Rothschild Investment LLC acquired a new position in Ferrari in the second quarter worth approximately $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Ferrari in the 3rd quarter worth $29,000. Valley Wealth Managers Inc. acquired a new stake in shares of Ferrari during the second quarter worth $33,000. Denver PWM LLC acquired a new stake in shares of Ferrari during the second quarter worth $35,000. Finally, FSC Wealth Advisors LLC purchased a new stake in shares of Ferrari during the third quarter valued at $47,000.

Analyst Upgrades and Downgrades

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

Ferrari Price Performance

Shares of RACE stock opened at $439.59 on Thursday. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a fifty-two week low of $330.15 and a fifty-two week high of $498.23. The stock’s 50-day moving average is $468.71 and its two-hundred day moving average is $441.97.

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 business 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 earned $1.98 earnings per share. Ferrari’s revenue was up 6.5% compared to the same quarter last year. As a group, analysts anticipate that Ferrari will post 8.75 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.