Ferrari (NYSE:RACE) Shares Sold by Marietta Investment Partners LLC

Marietta Investment Partners LLC lowered its position in shares of Ferrari (NYSE:RACE) by 4.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,689 shares of the company’s stock after selling 834 shares during the period. Ferrari makes up approximately 1.6% of Marietta Investment Partners LLC’s portfolio, making the stock its 18th largest position. Marietta Investment Partners LLC’s holdings in Ferrari were worth $7,224,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rothschild Investment LLC acquired a new stake in shares of Ferrari during the 2nd quarter worth approximately $29,000. Register Financial Advisors LLC acquired a new stake in Ferrari in the 1st quarter valued at approximately $33,000. Valley Wealth Managers Inc. acquired a new stake in Ferrari in the 2nd quarter valued at approximately $33,000. Denver PWM LLC acquired a new stake in Ferrari in the 2nd quarter valued at approximately $35,000. Finally, Pittenger & Anderson Inc. increased its holdings in Ferrari by 168.6% in the 1st quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock valued at $41,000 after purchasing an additional 59 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently weighed in on RACE. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Monday, August 5th. UBS Group lifted their target price on shares of Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a report on Monday, June 24th. Morgan Stanley lifted their target price on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Finally, Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Ferrari has a consensus rating of “Moderate Buy” and a consensus target price of $481.67.

Ferrari Stock Performance

Shares of RACE stock opened at $470.56 on Monday. The company has a quick ratio of 3.32, a current ratio of 4.35 and a debt-to-equity ratio of 1.01. Ferrari has a 52 week low of $285.02 and a 52 week high of $498.23. The stock has a market capitalization of $86.94 billion, a PE ratio of 60.10, a P/E/G ratio of 4.89 and a beta of 1.00. The firm has a 50 day moving average of $450.52 and a two-hundred day moving average of $430.18.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.08. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.99 EPS. On average, research analysts predict that Ferrari will post 8.71 EPS for the current fiscal 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.