Ferrari N.V. (NYSE:RACE) Stock Position Cut by Baskin Financial Services Inc.

Baskin Financial Services Inc. trimmed its stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 110,735 shares of the company's stock after selling 978 shares during the quarter. Ferrari accounts for about 3.9% of Baskin Financial Services Inc.'s holdings, making the stock its 10th largest position. Baskin Financial Services Inc.'s holdings in Ferrari were worth $47,381,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in RACE. Charles Schwab Investment Management Inc. increased its position in shares of Ferrari by 8.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company's stock worth $4,307,000 after purchasing an additional 755 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Ferrari in the 4th quarter worth $853,000. Zurich Insurance Group Ltd FI raised its position in shares of Ferrari by 13.2% during the 4th quarter. Zurich Insurance Group Ltd FI now owns 79,796 shares of the company's stock valued at $34,042,000 after buying an additional 9,274 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Ferrari by 2.6% during the 4th quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company's stock worth $54,847,000 after acquiring an additional 3,277 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new position in Ferrari in the fourth quarter worth $3,371,000.

Ferrari Trading Down 0.2%

RACE stock traded down $1.12 during midday trading on Friday, hitting $490.44. The company had a trading volume of 201,602 shares, compared to its average volume of 344,980. The company has a current ratio of 5.09, a quick ratio of 4.04 and a debt-to-equity ratio of 0.93. Ferrari N.V. has a 52 week low of $391.54 and a 52 week high of $509.13. The stock has a market cap of $118.87 billion, a price-to-earnings ratio of 51.90, a PEG ratio of 5.59 and a beta of 1.09. The stock's 50 day moving average price is $477.96 and its 200 day moving average price is $455.07.

Ferrari (NYSE:RACE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.06. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.82 billion. Ferrari had a net margin of 23.00% and a return on equity of 46.46%. The firm's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.95 EPS. As a group, equities research analysts expect that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

RACE has been the subject of several research analyst reports. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. Wall Street Zen downgraded Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. JPMorgan Chase & Co. lowered their price objective on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Finally, UBS Group increased their target price on shares of Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Ferrari has a consensus rating of "Moderate Buy" and an average price target of $526.25.

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.