Banco Santander S.A. Has $240.04 Million Stake in Ferrari N.V. (NYSE:RACE)

Key Points

• Banco Santander S.A. increased its holdings in Ferrari N.V. by 35.3% in the first quarter, acquiring an additional 146,279 shares, bringing its total to 560,999 shares valued at approximately $240 million.
• Ferrari's share price was boosted by a new price target increase from UBS Group, which raised it from $520 to $560, while analysts maintain an average rating of "Moderate Buy."
• Ferrari reported earnings of $2.70 per share for the last quarter, surpassing analysts' expectations and displaying a year-over-year revenue increase of 4.4% to $2.12 billion.

Banco Santander S.A. lifted its holdings in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 35.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 560,999 shares of the company's stock after purchasing an additional 146,279 shares during the period. Ferrari comprises approximately 2.6% of Banco Santander S.A.'s investment portfolio, making the stock its 6th largest holding. Banco Santander S.A. owned 0.23% of Ferrari worth $240,040,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RACE. American Century Companies Inc. raised its stake in Ferrari by 11.5% in the 4th quarter. American Century Companies Inc. now owns 6,239 shares of the company's stock valued at $2,651,000 after acquiring an additional 642 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Ferrari in the 4th quarter valued at about $13,456,000. Franklin Resources Inc. raised its stake in Ferrari by 13.8% in the 4th quarter. Franklin Resources Inc. now owns 25,093 shares of the company's stock valued at $10,689,000 after acquiring an additional 3,038 shares during the period. National Bank of Canada FI raised its stake in Ferrari by 144.3% in the 4th quarter. National Bank of Canada FI now owns 5,638 shares of the company's stock valued at $2,400,000 after acquiring an additional 3,330 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Ferrari in the 4th quarter valued at about $356,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. UBS Group boosted their price objective on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Cfra Research lowered Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $526.25.

Ferrari Price Performance

Shares of NYSE RACE traded down $6.85 during midday trading on Friday, hitting $436.54. 1,677,924 shares of the company's stock were exchanged, compared to its average volume of 466,264. Ferrari N.V. has a 12-month low of $391.54 and a 12-month high of $519.10. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89. The company has a market cap of $105.81 billion, a price-to-earnings ratio of 45.05, a PEG ratio of 4.99 and a beta of 1.09. The business's fifty day moving average price is $484.02 and its two-hundred day moving average price is $465.26.

Ferrari (NYSE:RACE - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.57 by $0.13. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.05 billion. Ferrari had a return on equity of 45.41% and a net margin of 22.95%. Ferrari's revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.29 earnings per share. As a group, research analysts forecast that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

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.