Infusive Asset Management Inc. Sells 1,956 Shares of Ferrari (NYSE:RACE)

Infusive Asset Management Inc. reduced its position in shares of Ferrari (NYSE:RACE) by 12.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,158 shares of the company’s stock after selling 1,956 shares during the quarter. Ferrari accounts for approximately 2.6% of Infusive Asset Management Inc.’s holdings, making the stock its 15th biggest position. Infusive Asset Management Inc.’s holdings in Ferrari were worth $6,186,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Virtu Financial LLC purchased a new position in Ferrari in the 1st quarter worth approximately $293,000. LRI Investments LLC purchased a new stake in Ferrari during the 1st quarter valued at $87,000. Atria Investments Inc raised its holdings in Ferrari by 34.6% during the 1st quarter. Atria Investments Inc now owns 7,017 shares of the company’s stock valued at $3,059,000 after buying an additional 1,804 shares during the period. Cetera Investment Advisers raised its holdings in Ferrari by 133.8% during the 1st quarter. Cetera Investment Advisers now owns 9,594 shares of the company’s stock valued at $4,185,000 after buying an additional 5,490 shares during the period. Finally, Cetera Advisors LLC raised its holdings in Ferrari by 56.1% during the 1st quarter. Cetera Advisors LLC now owns 3,524 shares of the company’s stock valued at $1,537,000 after buying an additional 1,267 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. UBS Group increased their target price on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley increased their target price on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Ferrari presently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Trading Down 0.0 %

Shares of RACE stock opened at $431.57 on Friday. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The stock’s 50-day moving average is $459.73 and its 200 day moving average is $443.07. Ferrari has a 1-year low of $330.15 and a 1-year high of $498.23.

Ferrari (NYSE:RACE) last released its earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the firm earned $1.98 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities analysts anticipate that Ferrari will post 8.66 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.