Stegent Equity Advisors Inc. Sells 1,738 Shares of Ferrari N.V. (NYSE:RACE)

Stegent Equity Advisors Inc. reduced its stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 59.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,197 shares of the company's stock after selling 1,738 shares during the quarter. Stegent Equity Advisors Inc.'s holdings in Ferrari were worth $512,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RACE. Vanguard Group Inc. boosted its holdings in shares of Ferrari by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company's stock worth $2,002,581,000 after purchasing an additional 45,754 shares during the period. Bank of Italy boosted its holdings in shares of Ferrari by 2.9% during the first quarter. Bank of Italy now owns 2,407,271 shares of the company's stock worth $1,021,078,000 after purchasing an additional 67,651 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Ferrari by 49.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock worth $763,125,000 after purchasing an additional 594,547 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Ferrari by 2.0% during the first quarter. Bank of New York Mellon Corp now owns 1,644,415 shares of the company's stock worth $703,612,000 after purchasing an additional 32,307 shares during the period. Finally, Norges Bank purchased a new stake in Ferrari in the fourth quarter worth about $697,226,000.

Analyst Ratings Changes

Several analysts have commented on the stock. Wall Street Zen lowered shares of Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. 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. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. UBS Group raised their price objective on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Ferrari presently has a consensus rating of "Moderate Buy" and an average price target of $526.25.

Ferrari Stock Down 1.5%

Shares of NYSE RACE traded down $7.43 on Friday, reaching $490.51. 268,265 shares of the company's stock traded hands, compared to its average volume of 347,112. Ferrari N.V. has a 12 month low of $391.54 and a 12 month high of $509.13. The business's 50 day simple moving average is $480.99 and its two-hundred day simple moving average is $457.26. The company has a market cap of $118.89 billion, a price-to-earnings ratio of 51.91, a price-to-earnings-growth ratio of 5.66 and a beta of 1.09. The company has a quick ratio of 4.04, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE - Get Free Report) last announced its 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. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.82 billion. Ferrari had a net margin of 23.00% and a return on equity of 46.46%. The business's revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.95 earnings per share. As a group, equities research analysts forecast that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

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.