Mackenzie Financial Corp Sells 8,451 Shares of Ferrari N.V. (NYSE:RACE)

Mackenzie Financial Corp lowered its stake in Ferrari N.V. (NYSE:RACE - Free Report) by 3.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 214,336 shares of the company's stock after selling 8,451 shares during the period. Mackenzie Financial Corp owned approximately 0.09% of Ferrari worth $91,665,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. LPL Financial LLC increased its position in shares of Ferrari by 1.0% in the first quarter. LPL Financial LLC now owns 44,222 shares of the company's stock worth $18,922,000 after purchasing an additional 430 shares during the period. Alteri Wealth LLC grew its position in Ferrari by 7.7% in the first quarter. Alteri Wealth LLC now owns 1,062 shares of the company's stock valued at $454,000 after acquiring an additional 76 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ferrari by 2.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 85,614 shares of the company's stock valued at $36,271,000 after acquiring an additional 2,144 shares during the last quarter. HB Wealth Management LLC grew its position in Ferrari by 89.7% in the first quarter. HB Wealth Management LLC now owns 935 shares of the company's stock valued at $400,000 after acquiring an additional 442 shares during the last quarter. Finally, TD Asset Management Inc grew its position in Ferrari by 17.7% in the first quarter. TD Asset Management Inc now owns 411,416 shares of the company's stock valued at $175,717,000 after acquiring an additional 61,922 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RACE. Wall Street Zen cut Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. UBS Group lifted their target price on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $526.25.

Ferrari Stock Performance

Shares of RACE stock opened at $507.48 on Tuesday. The business's 50-day moving average price is $485.63 and its 200-day moving average price is $464.03. Ferrari N.V. has a 12 month low of $391.54 and a 12 month high of $519.10. The firm has a market capitalization of $123.00 billion, a price-to-earnings ratio of 53.70, a PEG ratio of 5.67 and a beta of 1.09. 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 (NYSE:RACE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the firm posted $1.95 earnings per share. The business's revenue for the quarter was up 13.0% on a year-over-year basis. Equities research analysts forecast that Ferrari N.V. will post 9.22 EPS for the current 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.

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