Ferrari N.V. (NYSE:RACE) Holdings Lifted by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in Ferrari N.V. by 17.7%, owning approximately 0.17% of the company, valued at $175.7 million as of the latest filing.
• Analyst ratings vary, with UBS Group raising the price target from $520 to $560, while Wall Street Zen downgraded Ferrari from a "buy" to a "hold," yielding a consensus rating of "Moderate Buy."
• Ferrari reported a quarterly earnings per share of $2.42, surpassing estimates, and revealed that revenue increased by 13% year-over-year, amounting to $1.94 billion.

TD Asset Management Inc increased its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 17.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 411,416 shares of the company's stock after purchasing an additional 61,922 shares during the period. TD Asset Management Inc owned 0.17% of Ferrari worth $175,717,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RACE. Bank of Italy increased its position in shares of Ferrari by 2.9% in the first quarter. Bank of Italy now owns 2,407,271 shares of the company's stock worth $1,021,078,000 after acquiring an additional 67,651 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in 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 valued at $763,125,000 after purchasing an additional 594,547 shares in the last quarter. Bank of New York Mellon Corp raised its position in Ferrari by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 1,644,415 shares of the company's stock valued at $703,612,000 after purchasing an additional 32,307 shares during the period. Marshall Wace LLP lifted its stake in shares of Ferrari by 62.1% during the fourth quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock worth $579,561,000 after purchasing an additional 520,337 shares in the last quarter. Finally, Capital International Investors boosted its position in shares of Ferrari by 1.3% in the fourth quarter. Capital International Investors now owns 1,108,490 shares of the company's stock worth $475,175,000 after buying an additional 14,463 shares during the period.

Ferrari Price Performance

Shares of NYSE RACE traded down $1.32 during midday trading on Tuesday, reaching $505.99. The company's stock had a trading volume of 182,808 shares, compared to its average volume of 399,176. The company has a current ratio of 5.09, a quick ratio of 4.04 and a debt-to-equity ratio of 0.93. The company has a market cap of $122.64 billion, a price-to-earnings ratio of 53.55, a price-to-earnings-growth ratio of 5.67 and a beta of 1.09. Ferrari N.V. has a one year low of $391.54 and a one year high of $519.10. The company has a 50 day moving average price of $485.63 and a 200 day moving average price of $464.03.

Ferrari (NYSE:RACE - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.36 by $0.06. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.82 billion. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. Ferrari's revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.95 earnings per share. On average, equities research analysts expect that Ferrari N.V. will post 9.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Wall Street Zen downgraded shares of 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 six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.