Goodman Advisory Group LLC Reduces Holdings in Ferrari (NYSE:RACE)

Goodman Advisory Group LLC trimmed its position in shares of Ferrari (NYSE:RACE) by 14.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,037 shares of the company’s stock after selling 998 shares during the quarter. Goodman Advisory Group LLC’s holdings in Ferrari were worth $2,043,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of RACE. Blue Trust Inc. lifted its position in shares of Ferrari by 37.0% during the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after purchasing an additional 30 shares during the last quarter. Merlin Capital Inc lifted its position in shares of Ferrari by 1.3% during the third quarter. Merlin Capital Inc now owns 2,496 shares of the company’s stock worth $738,000 after purchasing an additional 32 shares during the last quarter. Allworth Financial LP lifted its position in shares of Ferrari by 17.0% during the fourth quarter. Allworth Financial LP now owns 255 shares of the company’s stock worth $86,000 after purchasing an additional 37 shares during the last quarter. Simplicity Solutions LLC lifted its position in shares of Ferrari by 2.8% during the third quarter. Simplicity Solutions LLC now owns 1,411 shares of the company’s stock worth $417,000 after purchasing an additional 39 shares during the last quarter. Finally, Stratos Wealth Partners LTD. lifted its position in shares of Ferrari by 1.8% during the third quarter. Stratos Wealth Partners LTD. now owns 2,217 shares of the company’s stock worth $655,000 after purchasing an additional 39 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. UBS Group lifted their target price on Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. Citigroup downgraded Ferrari from a “neutral” rating to a “sell” rating in a report on Monday, March 4th. Bank of America lifted their price objective on Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Ferrari presently has an average rating of “Hold” and an average target price of $363.57.

Ferrari Stock Up 0.1 %

RACE traded up $0.41 on Wednesday, hitting $411.34. The company had a trading volume of 203,404 shares, compared to its average volume of 219,887. Ferrari has a 12-month low of $272.70 and a 12-month high of $442.80. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.91 and a quick ratio of 2.98. The stock has a fifty day moving average price of $415.39 and a 200-day moving average price of $365.50.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.15. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Ferrari had a net margin of 21.06% and a return on equity of 43.84%. On average, equities research analysts forecast that Ferrari will post 8.31 EPS for the current year.

Ferrari Dividend Announcement

The company also recently declared a dividend, which will be paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd will be given a dividend of $2.443 per share. The ex-dividend date of this dividend is Monday, April 22nd. This represents a yield of 0.62%.

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.