Pinnacle Wealth Planning Services Inc. Has $745,000 Holdings in Ferrari (NYSE:RACE)

Pinnacle Wealth Planning Services Inc. lowered its position in Ferrari (NYSE:RACE - Free Report) by 23.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,754 shares of the company's stock after selling 545 shares during the period. Pinnacle Wealth Planning Services Inc.'s holdings in Ferrari were worth $745,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RACE. Barclays PLC grew its stake in shares of Ferrari by 6.1% in the third quarter. Barclays PLC now owns 286,564 shares of the company's stock worth $134,719,000 after acquiring an additional 16,428 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Ferrari in the fourth quarter valued at $545,000. Fifth Third Bancorp increased its position in Ferrari by 9.8% in the fourth quarter. Fifth Third Bancorp now owns 393 shares of the company's stock worth $167,000 after purchasing an additional 35 shares during the period. Linden Thomas Advisory Services LLC grew its position in shares of Ferrari by 26.0% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 998 shares of the company's stock worth $424,000 after buying an additional 206 shares during the period. Finally, Kingswood Wealth Advisors LLC acquired a new position in shares of Ferrari during the 4th quarter worth about $464,000.

Analyst Ratings Changes

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

Ferrari Stock Performance

RACE traded up $0.15 during trading hours on Friday, reaching $479.17. The company's stock had a trading volume of 321,594 shares, compared to its average volume of 334,313. Ferrari has a 52 week low of $391.54 and a 52 week high of $509.13. The company's 50-day moving average is $455.16 and its 200-day moving average is $449.06. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The firm has a market cap of $116.14 billion, a PE ratio of 52.37, a price-to-earnings-growth ratio of 4.43 and a beta of 1.13.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The business had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.82 billion. During the same quarter in the prior year, the business earned $1.95 EPS. The firm's revenue for the quarter was up 13.0% on a year-over-year basis. On average, equities analysts forecast that Ferrari will post 9.22 EPS for the current year.

Ferrari 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.