Ferrari (NYSE:RACE) Shares Sold by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC trimmed its stake in shares of Ferrari (NYSE:RACE) by 19.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,529 shares of the company’s stock after selling 1,336 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Ferrari were worth $2,349,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of RACE. E Fund Management Hong Kong Co. Ltd. purchased a new position in Ferrari in the third quarter worth $29,000. Planning Capital Management Corp acquired a new stake in shares of Ferrari during the 3rd quarter valued at approximately $30,000. Ashton Thomas Securities LLC purchased a new stake in shares of Ferrari during the 3rd quarter worth approximately $33,000. Armstrong Advisory Group Inc. increased its stake in Ferrari by 100.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after purchasing an additional 50 shares in the last quarter. Finally, FSC Wealth Advisors LLC purchased a new stake in Ferrari during the third quarter worth $47,000.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RACE. UBS Group increased their price target on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI upped their price objective on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $385.00 to $525.00 in a research report on Friday, October 11th. One research 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Stock Performance

Ferrari stock opened at $432.26 on Monday. 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 has a one year low of $330.15 and a one year high of $498.23. The stock’s 50 day moving average price is $433.73 and its 200 day moving average price is $448.62. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57.

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). The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.98 EPS. As a group, sell-side analysts expect that Ferrari will post 8.59 EPS for the current fiscal year.

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.