Bridgewater Advisors Inc. Makes New Investment in Ferrari N.V. (NYSE:RACE)

Bridgewater Advisors Inc. bought a new stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 1,063 shares of the company's stock, valued at approximately $492,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RACE. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Ferrari by 97.9% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,536 shares of the company's stock worth $1,513,000 after acquiring an additional 1,749 shares during the last quarter. Whittier Trust Co. lifted its holdings in Ferrari by 10.7% in the 1st quarter. Whittier Trust Co. now owns 6,151 shares of the company's stock valued at $2,632,000 after purchasing an additional 593 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Ferrari by 2.7% during the 1st quarter. Signaturefd LLC now owns 3,138 shares of the company's stock worth $1,343,000 after purchasing an additional 82 shares during the last quarter. Wilkinson Global Asset Management LLC grew its holdings in shares of Ferrari by 1.1% during the first quarter. Wilkinson Global Asset Management LLC now owns 8,375 shares of the company's stock worth $3,583,000 after buying an additional 90 shares in the last quarter. Finally, Cerity Partners LLC raised its position in shares of Ferrari by 14.1% in the first quarter. Cerity Partners LLC now owns 30,218 shares of the company's stock valued at $12,929,000 after buying an additional 3,740 shares during the last quarter.

Ferrari Trading Up 0.4%

Shares of NYSE:RACE traded up $1.94 during trading on Thursday, reaching $507.24. 364,778 shares of the stock were exchanged, compared to its average volume of 349,343. The firm's 50-day moving average price is $482.76 and its 200 day moving average price is $458.90. The firm has a market cap of $122.94 billion, a price-to-earnings ratio of 53.69, a price-to-earnings-growth ratio of 5.34 and a beta of 1.09. Ferrari N.V. has a 12-month low of $391.54 and a 12-month high of $509.13. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.04 and a current ratio of 5.09.

Ferrari (NYSE:RACE - Get Free Report) last released 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 company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.82 billion. Ferrari had a net margin of 23.00% and a return on equity of 46.46%. The business's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.95 earnings per share. On average, sell-side analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. UBS Group increased their price target on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. JPMorgan Chase & Co. decreased their target price on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Finally, Wall Street Zen lowered shares of Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Ferrari presently has a consensus rating of "Moderate Buy" and a consensus price target 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.