Blair William & Co. IL Sells 1,290 Shares of Ferrari N.V. (NYSE:RACE)

Key Points

• Blair William & Co. IL reduced its stake in Ferrari N.V. by 34.2%, now holding 2,480 shares worth approximately $1,061,000 after selling 1,290 shares in the first quarter.
• Ferrari's recent financial performance showed a quarterly revenue increase of 4.4% year-over-year, with earnings per share (EPS) exceeding analysts’ expectations at $2.70.
• Research analysts maintain a consensus rating of "Moderate Buy" for Ferrari, with an average price target of $526.25, despite some recent downgrades to "hold" and "moderate sell" ratings.

Blair William & Co. IL lessened its stake in Ferrari N.V. (NYSE:RACE - Free Report) by 34.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,480 shares of the company's stock after selling 1,290 shares during the quarter. Blair William & Co. IL's holdings in Ferrari were worth $1,061,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in RACE. Scotia Capital Inc. grew its position in shares of Ferrari by 3.3% during the 1st quarter. Scotia Capital Inc. now owns 4,423 shares of the company's stock worth $1,893,000 after purchasing an additional 140 shares in the last quarter. J. Safra Sarasin Holding AG increased its position in shares of Ferrari by 0.8% in the first quarter. J. Safra Sarasin Holding AG now owns 17,107 shares of the company's stock worth $7,407,000 after purchasing an additional 144 shares during the period. Banco Santander S.A. increased its position in shares of Ferrari by 35.3% in the first quarter. Banco Santander S.A. now owns 560,999 shares of the company's stock worth $240,040,000 after purchasing an additional 146,279 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Ferrari by 3.0% in the first quarter. PNC Financial Services Group Inc. now owns 13,087 shares of the company's stock worth $5,600,000 after purchasing an additional 376 shares during the period. Finally, Blueshift Asset Management LLC bought a new position in shares of Ferrari in the first quarter worth $464,000.

Ferrari Stock Up 1.0%

Shares of RACE stock traded up $4.53 during mid-day trading on Tuesday, hitting $445.88. The company's stock had a trading volume of 353,350 shares, compared to its average volume of 427,906. Ferrari N.V. has a 52-week low of $391.54 and a 52-week high of $519.10. The business has a 50-day moving average price of $479.78 and a 200 day moving average price of $465.63. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.94 and a current ratio of 5.09. The stock has a market cap of $108.07 billion, a price-to-earnings ratio of 46.01, a PEG ratio of 4.82 and a beta of 1.09.

Ferrari (NYSE:RACE - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.57 by $0.13. Ferrari had a return on equity of 45.41% and a net margin of 22.95%. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. Ferrari's revenue was up 4.4% compared to the same quarter last year. Research analysts predict that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RACE shares. Citigroup reiterated a "sell" rating on shares of Ferrari in a research report on Monday. UBS Group lifted their price objective on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a research note on Monday, August 4th. Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Cfra Research cut shares of Ferrari from a "hold" rating to a "moderate sell" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Ferrari currently has a consensus rating of "Moderate Buy" and an average target price of $526.25.

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.