Bank Julius Baer & Co. Ltd Zurich raised its position in Ferrari N.V. (NYSE:RACE - Free Report) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 245,641 shares of the company's stock after acquiring an additional 2,335 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned 0.10% of Ferrari worth $106,204,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of RACE. Charles Schwab Investment Management Inc. grew its position in Ferrari by 8.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company's stock valued at $4,307,000 after acquiring an additional 755 shares in the last quarter. American Century Companies Inc. grew its position in Ferrari by 11.5% in the fourth 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 in the last quarter. Sei Investments Co. grew its position in Ferrari by 13.9% in the fourth quarter. Sei Investments Co. now owns 47,674 shares of the company's stock valued at $20,251,000 after acquiring an additional 5,805 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Ferrari in the 4th quarter valued at approximately $853,000. Finally, LPL Financial LLC raised its position in shares of Ferrari by 18.8% in the 4th quarter. LPL Financial LLC now owns 43,792 shares of the company's stock valued at $18,605,000 after purchasing an additional 6,930 shares in the last quarter.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on RACE shares. JPMorgan Chase & Co. cut their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, UBS Group upped their price target on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $526.25.
View Our Latest Analysis on Ferrari
Ferrari Stock Performance
NYSE RACE traded down $1.70 during trading hours on Thursday, hitting $515.86. The company had a trading volume of 215,045 shares, compared to its average volume of 402,843. Ferrari N.V. has a fifty-two week low of $391.54 and a fifty-two week high of $518.79. The company has a quick ratio of 4.04, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The business has a fifty day simple moving average of $484.64 and a 200-day simple moving average of $461.84. The firm has a market cap of $125.03 billion, a P/E ratio of 54.59, a price-to-earnings-growth ratio of 5.49 and a beta of 1.09.
Ferrari (NYSE:RACE - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.06. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the company earned $1.95 earnings per share. The firm's revenue for the quarter was up 13.0% on a year-over-year basis. Equities analysts predict that Ferrari N.V. will post 9.22 EPS for the current year.
Ferrari Company Profile
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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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