Beck Bode LLC Purchases 94 Shares of Ferrari (NYSE:RACE)

Beck Bode LLC grew its holdings in Ferrari (NYSE:RACE) by 3.5% during the 4th quarter, HoldingsChannel reports. The firm owned 2,745 shares of the company’s stock after acquiring an additional 94 shares during the quarter. Beck Bode LLC’s holdings in Ferrari were worth $929,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Jamison Private Wealth Management Inc. bought a new position in Ferrari during the fourth quarter worth $27,000. Householder Group Estate & Retirement Specialist LLC grew its holdings in shares of Ferrari by 320.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock worth $35,000 after purchasing an additional 80 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Ferrari by 37.0% in the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after acquiring an additional 30 shares during the last quarter. Headlands Technologies LLC acquired a new position in Ferrari in the fourth quarter worth $43,000. Finally, Allworth Financial LP increased its position in Ferrari by 327.5% in the 3rd quarter. Allworth Financial LP now owns 218 shares of the company’s stock valued at $64,000 after acquiring an additional 167 shares in the last quarter.

Ferrari Stock Performance

RACE traded down $0.84 during trading on Wednesday, reaching $414.86. The company had a trading volume of 7,684 shares, compared to its average volume of 300,503. Ferrari has a 12 month low of $273.39 and a 12 month high of $442.80. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.98 and a current ratio of 3.91. The business’s fifty day moving average price is $421.43 and its 200 day moving average price is $373.48.

Ferrari (NYSE:RACE) last released its earnings results on Thursday, February 1st. The company reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.15. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. As a group, sell-side analysts anticipate that Ferrari will post 8.31 EPS for the current year.

Ferrari Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RACE shares. Sanford C. Bernstein boosted their price objective on Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Bank of America lifted their price objective on Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Evercore ISI raised their target price on Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Citigroup cut Ferrari from a “neutral” rating to a “sell” rating in a research note on Monday, March 4th. Finally, StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ferrari currently has a consensus rating of “Hold” and a consensus target price of $413.86.

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.