Rakuten Securities Inc. Decreases Stake in Ferrari N.V. (NYSE:RACE)

Rakuten Securities Inc. cut its position in Ferrari N.V. (NYSE:RACE) by 21.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 273 shares of the company’s stock after selling 73 shares during the period. Rakuten Securities Inc.’s holdings in Ferrari were worth $117,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Park Square Financial Group LLC purchased a new stake in Ferrari during the fourth quarter worth approximately $32,000. Webster Bank N. A. acquired a new stake in Ferrari during the first quarter worth approximately $43,000. Kestra Investment Management LLC purchased a new stake in shares of Ferrari during the 4th quarter worth approximately $45,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Ferrari during the 1st quarter worth approximately $48,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Ferrari in the 4th quarter valued at $53,000.

Analyst Upgrades and Downgrades

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

Ferrari Price Performance

Shares of RACE opened at $459.74 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.04 and a current ratio of 5.09. Ferrari N.V. has a fifty-two week low of $391.54 and a fifty-two week high of $509.13. The firm has a 50-day simple moving average of $468.46 and a 200-day simple moving average of $452.69. The company has a market capitalization of $111.43 billion, a price-to-earnings ratio of 48.65, a price-to-earnings-growth ratio of 5.40 and a beta of 1.10.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the business earned $1.95 EPS. The firm’s revenue was up 13.0% compared to the same quarter last year. On average, equities research analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current 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.