Credit Agricole S A Acquires 40,716 Shares of Ferrari N.V. $RACE

Key Points

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Credit Agricole S A grew its holdings in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 8.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 534,333 shares of the company's stock after buying an additional 40,716 shares during the period. Ferrari makes up 0.7% of Credit Agricole S A's investment portfolio, making the stock its 15th largest holding. Credit Agricole S A owned about 0.22% of Ferrari worth $228,630,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of RACE. Goldman Sachs Group Inc. boosted its holdings in shares of Ferrari by 52.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company's stock worth $974,332,000 after buying an additional 781,587 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Ferrari by 49.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock worth $763,125,000 after purchasing an additional 594,547 shares in the last quarter. Nuveen LLC bought a new position in shares of Ferrari in the 1st quarter worth $233,200,000. Vanguard Group Inc. lifted its holdings in shares of Ferrari by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company's stock worth $2,165,683,000 after purchasing an additional 377,929 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of Ferrari by 155.1% in the 1st quarter. Citigroup Inc. now owns 269,862 shares of the company's stock worth $115,469,000 after purchasing an additional 164,092 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ferrari in a report on Monday, August 4th. Citigroup reiterated a "sell" rating on shares of Ferrari in a report on Monday, August 11th. Wall Street Zen cut Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Cfra Research cut Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. Finally, UBS Group increased their target price on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $526.25.

Ferrari Trading Up 0.7%

NYSE RACE opened at $463.56 on Tuesday. The firm has a market capitalization of $112.36 billion, a P/E ratio of 47.84, a PEG ratio of 4.98 and a beta of 1.09. The business has a fifty day simple moving average of $477.52 and a 200 day simple moving average of $466.55. Ferrari N.V. has a 12 month low of $391.54 and a 12 month high of $519.10. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, beating analysts' consensus estimates of $2.57 by $0.13. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.05 billion. Ferrari had a return on equity of 45.41% and a net margin of 22.95%. Ferrari's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.29 EPS. On average, analysts predict that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

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.

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