Lindbrook Capital LLC Raises Position in Ferrari (NYSE:RACE)

Lindbrook Capital LLC boosted its position in Ferrari (NYSE:RACE) by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 508 shares of the company’s stock after acquiring an additional 38 shares during the quarter. Lindbrook Capital LLC’s holdings in Ferrari were worth $172,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in RACE. Blue Trust Inc. grew its stake in shares of Ferrari by 37.0% during the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after buying an additional 30 shares during the last quarter. Merlin Capital Inc lifted its holdings in Ferrari by 1.3% in the third quarter. Merlin Capital Inc now owns 2,496 shares of the company’s stock worth $738,000 after buying an additional 32 shares during the period. Allworth Financial LP lifted its holdings in Ferrari by 17.0% in the fourth quarter. Allworth Financial LP now owns 255 shares of the company’s stock worth $86,000 after buying an additional 37 shares during the period. Simplicity Solutions LLC lifted its holdings in Ferrari by 2.8% in the third quarter. Simplicity Solutions LLC now owns 1,411 shares of the company’s stock worth $417,000 after buying an additional 39 shares during the period. Finally, Stratos Wealth Partners LTD. lifted its holdings in Ferrari by 1.8% in the third quarter. Stratos Wealth Partners LTD. now owns 2,217 shares of the company’s stock worth $655,000 after buying an additional 39 shares during the period.

Ferrari Stock Performance

Shares of RACE stock opened at $424.61 on Wednesday. Ferrari has a 1 year low of $273.39 and a 1 year high of $442.80. The firm has a fifty day moving average price of $418.37 and a 200-day moving average price of $369.56. 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 issued its quarterly earnings data on Thursday, February 1st. The company reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.15. Ferrari had a net margin of 21.06% and a return on equity of 43.84%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.61 billion. As a group, sell-side analysts anticipate that Ferrari will post 8.31 earnings per share for the current year.

Ferrari Announces Dividend

The company also recently announced an annual dividend, which will be paid on Friday, May 3rd. Investors 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

Several brokerages have commented on RACE. Citigroup lowered shares of Ferrari from a “neutral” rating to a “sell” rating in a report on Monday, March 4th. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. UBS Group lifted their target price on shares of Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Bank of America boosted their price objective on shares of Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, Evercore ISI boosted their price objective on shares of Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $413.86.

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.