Armis Advisers LLC bought a new stake in Ferrari (NYSE:RACE - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 725 shares of the company's stock, valued at approximately $308,000.
A number of other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new stake in Ferrari in the 4th quarter valued at approximately $697,226,000. Price T Rowe Associates Inc. MD grew its stake in shares of Ferrari by 49.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock worth $763,125,000 after purchasing an additional 594,547 shares during the period. Barclays PLC lifted its stake in shares of Ferrari by 198.0% in the fourth quarter. Barclays PLC now owns 853,971 shares of the company's stock valued at $362,802,000 after purchasing an additional 567,407 shares during the period. Marshall Wace LLP boosted its holdings in Ferrari by 62.1% during the fourth quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock worth $579,561,000 after buying an additional 520,337 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in Ferrari by 380.7% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company's stock worth $107,770,000 after buying an additional 192,694 shares during the period.
Ferrari Trading Up 0.0%
NYSE RACE traded up $0.15 during mid-day trading on Friday, reaching $479.17. 321,594 shares of the stock were exchanged, compared to its average volume of 333,443. The stock has a market capitalization of $116.14 billion, a PE ratio of 52.37, a PEG ratio of 4.43 and a beta of 1.13. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a 1-year low of $391.54 and a 1-year high of $509.13. The business's fifty day simple moving average is $454.25 and its 200 day simple moving average is $448.77.
Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.06. The business had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.82 billion. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The business's revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.95 earnings per share. On average, research analysts anticipate that Ferrari will post 9.22 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on RACE shares. Wall Street Zen cut Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. JPMorgan Chase & Co. reduced their price target on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a research note on Thursday, February 6th. They set a "hold" rating for the company. Finally, Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $526.25.
Read Our Latest Stock Analysis on Ferrari
About Ferrari
(
Free Report)
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.
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