Allworth Financial LP Raises Holdings in Ferrari (NYSE:RACE)

Allworth Financial LP lifted its holdings in shares of Ferrari (NYSE:RACE) by 17.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 255 shares of the company’s stock after acquiring an additional 37 shares during the period. Allworth Financial LP’s holdings in Ferrari were worth $86,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Ferrari by 1.4% during the third quarter. Vanguard Group Inc. now owns 4,441,408 shares of the company’s stock worth $1,312,614,000 after acquiring an additional 61,132 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Ferrari by 12.0% during the third quarter. B. Riley Wealth Advisors Inc. now owns 2,140 shares of the company’s stock worth $632,000 after purchasing an additional 230 shares during the period. Alphinity Investment Management Pty Ltd acquired a new stake in shares of Ferrari during the third quarter worth about $157,620,000. Syntal Capital Partners LLC acquired a new stake in shares of Ferrari during the third quarter worth about $511,000. Finally, Kestra Advisory Services LLC lifted its holdings in shares of Ferrari by 15.6% during the third quarter. Kestra Advisory Services LLC now owns 3,128 shares of the company’s stock worth $924,000 after purchasing an additional 422 shares during the period.

Ferrari Stock Down 2.4 %

Shares of NYSE:RACE opened at $410.40 on Friday. Ferrari has a 12-month low of $272.70 and a 12-month high of $442.80. The business has a 50 day moving average of $413.95 and a two-hundred day moving average of $362.80. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.91 and a quick ratio of 2.98.

Ferrari (NYSE:RACE) last announced its earnings results on Thursday, February 1st. The company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.15. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.61 billion. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. As a group, research analysts expect that Ferrari will post 8.31 earnings per share for the current fiscal year.

Ferrari Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be paid a dividend of $2.443 per share. This represents a dividend yield of 0.62%. The ex-dividend date of this dividend is Monday, April 22nd.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RACE. Citigroup downgraded Ferrari from a “neutral” rating to a “sell” rating in a report on Monday, March 4th. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Bank of America lifted their target price on Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group lifted their target price on Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $363.57.

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.