Cerity Partners LLC Buys 1,854 Shares of Ferrari (NYSE:RACE)

Cerity Partners LLC grew its stake in shares of Ferrari (NYSE:RACE) by 9.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,525 shares of the company’s stock after acquiring an additional 1,854 shares during the period. Cerity Partners LLC’s holdings in Ferrari were worth $7,285,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RACE. Vanguard Group Inc. boosted its holdings in Ferrari by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,441,408 shares of the company’s stock worth $1,312,614,000 after buying an additional 61,132 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in Ferrari by 12.0% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 2,140 shares of the company’s stock worth $632,000 after buying an additional 230 shares during the period. Alphinity Investment Management Pty Ltd bought a new position in Ferrari in the 3rd quarter worth approximately $157,620,000. Sequoia Financial Advisors LLC boosted its holdings in Ferrari by 1.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,247 shares of the company’s stock worth $1,437,000 after buying an additional 40 shares during the period. Finally, Syntal Capital Partners LLC purchased a new stake in Ferrari in the 3rd quarter worth approximately $511,000.

Analyst Upgrades and Downgrades

RACE has been the topic of several recent analyst reports. Bank of America increased their target price on shares of Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Citigroup cut shares of Ferrari from a “neutral” rating to a “sell” rating in a research note on Monday, March 4th. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Thursday, April 4th. Finally, UBS Group increased their target price on shares of Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $363.57.

Ferrari Trading Up 0.2 %

Ferrari stock opened at $411.09 on Tuesday. The firm’s fifty day moving average price is $414.74 and its 200-day moving average price is $364.69. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.98 and a current ratio of 3.91. Ferrari has a fifty-two week low of $272.70 and a fifty-two week high of $442.80.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.15. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Ferrari had a net margin of 21.06% and a return on equity of 43.84%. Equities research analysts forecast that Ferrari will post 8.31 earnings per share for the current year.

Ferrari Dividend Announcement

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

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.