Deutsche Bank AG Acquires 68,220 Shares of Ferrari N.V. (NYSE:RACE)

Key Points

• Deutsche Bank AG increased its stake in Ferrari N.V. by 8.4%, acquiring an additional 68,220 shares, bringing its total ownership to 884,812 shares valued at approximately $378.6 million.
• Ferrari reported a $2.70 EPS for the last quarter, exceeding analysts' expectations of $2.57, with revenues rising 4.4% year-over-year to $2.12 billion.
• Several institutional investors adjusted their positions in Ferrari, with Goldman Sachs increasing its stake by 52.3%, now holding over 2.2 million shares valued at approximately $974 million.

Deutsche Bank AG boosted its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 8.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 884,812 shares of the company's stock after purchasing an additional 68,220 shares during the quarter. Deutsche Bank AG owned about 0.37% of Ferrari worth $378,593,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in RACE. Charles Schwab Investment Management Inc. grew its stake in shares of Ferrari by 12.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 11,362 shares of the company's stock worth $4,862,000 after acquiring an additional 1,223 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new position in Ferrari in the 1st quarter worth about $16,852,000. Citizens Financial Group Inc. RI grew its position in Ferrari by 19.6% during the 1st quarter. Citizens Financial Group Inc. RI now owns 707 shares of the company's stock valued at $303,000 after purchasing an additional 116 shares during the last quarter. Vanguard Group Inc. grew its position in Ferrari by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company's stock valued at $2,165,683,000 after purchasing an additional 377,929 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Ferrari by 52.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company's stock valued at $974,332,000 after purchasing an additional 781,587 shares in the last quarter.

Ferrari Stock Performance

Shares of RACE stock opened at $449.16 on Friday. The company has a quick ratio of 3.94, a current ratio of 5.09 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average price of $481.24 and a 200-day moving average price of $465.06. 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 $108.87 billion, a PE ratio of 46.35, a P/E/G ratio of 4.81 and a beta of 1.09.

Ferrari (NYSE:RACE - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, topping analysts' consensus estimates of $2.57 by $0.13. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.05 billion. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The firm's revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.29 EPS. As a group, equities research analysts expect that Ferrari N.V. will post 9.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Cfra Research downgraded shares of Ferrari from a "hold" rating to a "moderate sell" rating in a research note on Thursday, July 31st. Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a research report on Monday. UBS Group increased their target price on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.

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