Ferrari N.V. (NYSE:RACE) Stake Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 2.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,644,415 shares of the company's stock after buying an additional 32,307 shares during the period. Bank of New York Mellon Corp owned approximately 0.68% of Ferrari worth $703,612,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Ferrari by 8.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company's stock valued at $4,307,000 after buying an additional 755 shares during the period. Keybank National Association OH raised its holdings in shares of Ferrari by 5.3% during the 4th quarter. Keybank National Association OH now owns 1,480 shares of the company's stock valued at $629,000 after buying an additional 75 shares during the period. Assetmark Inc. grew its stake in Ferrari by 17.8% during the 4th quarter. Assetmark Inc. now owns 1,826 shares of the company's stock valued at $776,000 after purchasing an additional 276 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Ferrari during the 4th quarter valued at approximately $27,657,000. Finally, Callan Family Office LLC acquired a new stake in Ferrari during the 4th quarter valued at approximately $477,000.

Ferrari Stock Performance

RACE stock traded down $3.13 during trading on Monday, reaching $487.08. 127,380 shares of the company's stock were exchanged, compared to its average volume of 411,193. The company has a quick ratio of 4.04, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. Ferrari N.V. has a 1-year low of $391.54 and a 1-year high of $509.13. The company's fifty day moving average price is $478.56 and its 200-day moving average price is $455.91. The firm has a market cap of $118.06 billion, a PE ratio of 51.54, a P/E/G ratio of 5.58 and a beta of 1.09.

Ferrari (NYSE:RACE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.06. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the firm posted $1.95 EPS. The firm's quarterly revenue was up 13.0% on a year-over-year basis. On average, research analysts expect that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Analysts Set New Price Targets

RACE has been the subject of a number of research analyst reports. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. JPMorgan Chase & Co. dropped their price target on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. UBS Group boosted their price target on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, Wall Street Zen downgraded Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $526.25.

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.