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

Bank of New York Mellon Corp lifted its holdings in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 2.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,644,415 shares of the company's stock after acquiring an additional 32,307 shares during the quarter. Bank of New York Mellon Corp owned about 0.68% of Ferrari worth $703,612,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in RACE. Charles Schwab Investment Management Inc. lifted 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 acquiring an additional 755 shares in the last quarter. Keybank National Association OH lifted 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 acquiring an additional 75 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of 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 acquiring an additional 276 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Ferrari during the 4th quarter worth $27,657,000. Finally, Callan Family Office LLC purchased a new stake in Ferrari during the 4th quarter worth $477,000.

Ferrari Stock Up 0.6%

Shares of RACE traded up $3.02 during midday trading on Tuesday, hitting $489.34. The company had a trading volume of 162,242 shares, compared to its average volume of 410,473. The company's 50 day moving average price is $479.12 and its 200 day moving average price is $456.33. The stock has a market cap of $118.61 billion, a price-to-earnings ratio of 51.78, a PEG ratio of 5.58 and a beta of 1.09. Ferrari N.V. has a 52 week low of $391.54 and a 52 week high of $509.13. 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 (NYSE:RACE - Get Free Report) last released 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 net margin of 23.00% and a return on equity of 46.46%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the firm earned $1.95 EPS. The company's revenue was up 13.0% on a year-over-year basis. On average, equities research analysts predict that Ferrari N.V. will post 9.22 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. Wall Street Zen downgraded shares of Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Ferrari presently has a consensus rating of "Moderate Buy" and a consensus target price of $526.25.

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.