Ferrari (NYSE:RACE) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lessened its stake in Ferrari (NYSE:RACE) by 6.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,268 shares of the company’s stock after selling 160 shares during the period. National Bank of Canada FI’s holdings in Ferrari were worth $929,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new position in shares of Ferrari in the second quarter worth $29,000. IAG Wealth Partners LLC acquired a new position in shares of Ferrari during the first quarter worth $33,000. Register Financial Advisors LLC acquired a new position in shares of Ferrari during the first quarter worth $33,000. Pittenger & Anderson Inc. grew its stake in shares of Ferrari by 168.6% during the first quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock worth $41,000 after purchasing an additional 59 shares in the last quarter. Finally, Spire Wealth Management acquired a new position in shares of Ferrari during the first quarter worth $46,000.

Analysts Set New Price Targets

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

Ferrari Trading Down 0.7 %

NYSE RACE opened at $471.90 on Friday. The stock has a market capitalization of $87.18 billion, a P/E ratio of 60.27, a P/E/G ratio of 4.96 and a beta of 1.00. Ferrari has a 52-week low of $285.02 and a 52-week high of $498.23. The firm has a 50-day moving average price of $446.06 and a 200 day moving average price of $428.11. 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 (NYSE:RACE) last issued its earnings results on Thursday, August 1st. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.08. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the business posted $1.99 earnings per share. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. Equities research analysts expect that Ferrari will post 8.71 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.