7,655 Shares of Ferrari N.V. $RACE Acquired by Triasima Portfolio Management inc.

Key Points

• Triasima Portfolio Management acquired 7,655 Ferrari shares in the third quarter, valued at approximately $3.0 million. Several other institutional investors also increased their Ferrari holdings during the period.
• Wall Street remains broadly positive on Ferrari, with one Strong Buy, 14 Buy and eight Hold ratings. The stock has a “Moderate Buy” consensus and an average price target of $456.71.
• Ferrari’s latest quarterly results exceeded expectations, with earnings of $2.99 per share and revenue of $2.21 billion, up 8.4% year over year. Shares opened at $398.21, while the company reported a 22.29% net margin and 42.83% return on equity.

Triasima Portfolio Management inc. acquired a new stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,655 shares of the company's stock, valued at approximately $3,007,000.

Other large investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its stake in Ferrari by 8.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 200,019 shares of the company's stock worth $78,584,000 after acquiring an additional 15,890 shares in the last quarter. Ninety One UK Ltd increased its position in shares of Ferrari by 12.3% during the third quarter. Ninety One UK Ltd now owns 941,574 shares of the company's stock worth $370,470,000 after acquiring an additional 103,264 shares during the period. Ninety One North America Inc. increased its position in shares of Ferrari by 184.7% during the third quarter. Ninety One North America Inc. now owns 29,821 shares of the company's stock worth $11,733,000 after acquiring an additional 19,347 shares during the period. Strategy Asset Managers LLC purchased a new position in shares of Ferrari during the third quarter worth approximately $210,000. Finally, Generate Investment Management Ltd raised its stake in shares of Ferrari by 45.9% during the third quarter. Generate Investment Management Ltd now owns 37,196 shares of the company's stock valued at $14,612,000 after acquiring an additional 11,707 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RACE. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Ferrari in a report on Tuesday, September 29th. Morgan Stanley dropped their price objective on Ferrari from $460.00 to $456.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 30th. The Goldman Sachs Group restated a "buy" rating on shares of Ferrari in a report on Tuesday, August 11th. Needham & Company LLC upgraded Ferrari to a "neutral" rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Ferrari in a research report on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, Ferrari has an average rating of "Moderate Buy" and an average target price of $456.71.

Ferrari Stock Up 2.8%

NYSE:RACE opened at $398.21 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.85 and a quick ratio of 3.70. Ferrari N.V. has a 1-year low of $312.51 and a 1-year high of $437.15. The company has a 50-day moving average of $407.46 and a 200 day moving average of $375.44. The firm has a market cap of $93.16 billion, a PE ratio of 35.97, a price-to-earnings-growth ratio of 3.33 and a beta of 0.93.

Ferrari (NYSE:RACE - Get Free Report) last posted its earnings results on Friday, July 31st. The company reported $2.99 EPS for the quarter, beating analysts' consensus estimates of $2.83 by $0.16. Ferrari had a net margin of 22.29% and a return on equity of 42.83%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter last year, the firm posted $2.38 EPS. The company's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, research analysts anticipate that Ferrari N.V. will post 11.16 EPS for the current fiscal year.

Ferrari Company Profile

Ferrari N.V. is an Italian luxury automotive company that designs, develops, manufactures and sells high-performance sports cars. Its product portfolio includes mid- and front-engine sports cars, grand touring models, special-series vehicles and limited-edition automobiles. Ferrari also develops hybrid and other electrified models while maintaining a focus on performance, craftsmanship, design and exclusivity.

The company generates additional activities through its racing operations, vehicle personalization programs, financial services, merchandise, licensing and branded experiences.

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