Cetera Investment Advisers Purchases 1,185 Shares of Ferrari N.V. (NYSE:RACE)

Key Points

• Cetera Investment Advisers has increased its stake in Ferrari N.V. by 11.7%, now owning 11,331 shares worth approximately $4.81 million after purchasing an additional 1,185 shares.
• Recent analyst ratings for Ferrari include a price target increase from $520 to $560 by UBS Group, while Cfra Research downgraded its rating to a "moderate sell."
• Ferrari reported quarterly earnings of $2.70 EPS, exceeding estimates by $0.13, with a revenue increase of 4.4% year-over-year, totaling $2.12 billion.

Cetera Investment Advisers increased its stake in Ferrari N.V. (NYSE:RACE - Free Report) by 11.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,331 shares of the company's stock after purchasing an additional 1,185 shares during the period. Cetera Investment Advisers' holdings in Ferrari were worth $4,813,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bridgewater Advisors Inc. bought a new position in Ferrari in the 1st quarter worth approximately $492,000. Zurich Insurance Group Ltd FI raised its position in Ferrari by 13.2% in the 4th quarter. Zurich Insurance Group Ltd FI now owns 79,796 shares of the company's stock worth $34,042,000 after purchasing an additional 9,274 shares during the last quarter. Russell Investments Group Ltd. raised its position in Ferrari by 2.6% in the 4th quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company's stock worth $54,847,000 after purchasing an additional 3,277 shares during the last quarter. National Bank of Canada FI raised its position in Ferrari by 144.3% in the 4th quarter. National Bank of Canada FI now owns 5,638 shares of the company's stock worth $2,400,000 after purchasing an additional 3,330 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Ferrari by 13.8% in the 4th quarter. Franklin Resources Inc. now owns 25,093 shares of the company's stock worth $10,689,000 after purchasing an additional 3,038 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently weighed in on RACE. UBS Group boosted their price objective on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Cfra Research lowered shares of Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday. Finally, Wall Street Zen lowered shares of Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Two equities research 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $526.25.

Ferrari Price Performance

RACE opened at $436.54 on Friday. The company has a fifty day moving average price of $484.02 and a two-hundred day moving average price of $465.04. 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 N.V. has a 52 week low of $391.54 and a 52 week high of $519.10. The firm has a market capitalization of $105.81 billion, a PE ratio of 45.05, a P/E/G ratio of 4.78 and a beta of 1.09.

Ferrari (NYSE:RACE - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.13. Ferrari had a net margin of 22.95% and a return on equity of 46.22%. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the business earned $2.29 EPS. The firm's revenue was up 4.4% on a year-over-year basis. As a group, analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current year.

Ferrari 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.

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