Passumpsic Savings Bank Sells 36 Shares of Ferrari (NYSE:RACE)

Passumpsic Savings Bank trimmed its holdings in Ferrari (NYSE:RACE) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,819 shares of the company’s stock after selling 36 shares during the period. Passumpsic Savings Bank’s holdings in Ferrari were worth $2,265,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its holdings in shares of Ferrari by 3,806.5% during the 2nd quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock worth $528,000 after buying an additional 1,180 shares during the period. Cerity Partners LLC boosted its holdings in Ferrari by 14.0% in the 3rd quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock valued at $12,653,000 after purchasing an additional 3,308 shares during the period. Raymond James & Associates boosted its holdings in Ferrari by 1.3% in the 2nd quarter. Raymond James & Associates now owns 50,247 shares of the company’s stock valued at $20,519,000 after purchasing an additional 655 shares during the period. Rheos Capital Works Inc. boosted its holdings in Ferrari by 30.3% in the 3rd quarter. Rheos Capital Works Inc. now owns 111,700 shares of the company’s stock valued at $52,511,000 after purchasing an additional 26,000 shares during the period. Finally, Icon Wealth Advisors LLC boosted its holdings in Ferrari by 1,403.2% in the 3rd quarter. Icon Wealth Advisors LLC now owns 6,043 shares of the company’s stock valued at $2,841,000 after purchasing an additional 5,641 shares during the period.

Ferrari Trading Up 0.0 %

Shares of Ferrari stock opened at $448.56 on Wednesday. Ferrari has a 12-month low of $330.15 and a 12-month high of $498.23. The company has a 50-day simple moving average of $455.63 and a 200 day simple moving average of $444.90. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE) last issued its quarterly earnings data 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 company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the company earned $1.98 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. Analysts predict that Ferrari will post 8.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Evercore ISI increased their price objective on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Morgan Stanley increased their price objective on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $385.00 to $525.00 in a research note on Friday, October 11th. StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, UBS Group increased their price objective on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $507.14.

About Ferrari

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.