Avior Wealth Management LLC Has $335,000 Stock Position in Ferrari (NYSE:RACE)

Avior Wealth Management LLC cut its stake in Ferrari (NYSE:RACE) by 9.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 789 shares of the company’s stock after selling 81 shares during the period. Avior Wealth Management LLC’s holdings in Ferrari were worth $335,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RACE. UBS Group increased their target price on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Evercore ISI increased their price objective on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $385.00 to $525.00 in a report on Friday, October 11th. Finally, StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Stock Up 0.5 %

Shares of NYSE RACE opened at $432.26 on Monday. Ferrari has a 1 year low of $330.15 and a 1 year high of $498.23. The firm’s 50-day moving average is $433.73 and its 200-day moving average is $448.52. 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 firm has a market capitalization of $105.36 billion, a PE ratio of 50.20, a price-to-earnings-growth ratio of 3.70 and a beta of 0.95.

Ferrari (NYSE:RACE) last announced 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). 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 the consensus estimate of $1.80 billion. During the same period in the previous year, the business posted $1.98 earnings per share. Ferrari’s revenue was up 6.5% compared to the same quarter last year. Equities analysts expect that Ferrari will post 8.59 EPS 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.