FDx Advisors Inc. Reduces Stake in Ferrari (NYSE:RACE)

FDx Advisors Inc. lowered its position in Ferrari (NYSE:RACE) by 11.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,028 shares of the company’s stock after selling 274 shares during the period. FDx Advisors Inc.’s holdings in Ferrari were worth $862,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Ferrari during the 3rd quarter worth approximately $29,000. Hanson & Doremus Investment Management acquired a new position in shares of Ferrari during the 4th quarter worth approximately $26,000. Planning Capital Management Corp acquired a new position in shares of Ferrari during the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC acquired a new position in shares of Ferrari during the 3rd quarter worth approximately $33,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Ferrari during the 3rd quarter worth approximately $47,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. UBS Group increased their price objective on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Trading Up 1.4 %

Shares of RACE stock opened at $508.07 on Friday. The business’s 50 day moving average is $443.58 and its two-hundred day moving average is $454.12. The company has a market capitalization of $123.84 billion, a P/E ratio of 55.53, a price-to-earnings-growth ratio of 4.37 and a beta of 0.95. Ferrari has a twelve month low of $393.92 and a twelve month high of $508.15. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

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.