Ferrari N.V. (NYSE:RACE) Holdings Raised by Allianz Asset Management GmbH

Allianz Asset Management GmbH raised its position in Ferrari N.V. (NYSE:RACE - Free Report) by 1.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 124,288 shares of the company's stock after buying an additional 1,720 shares during the quarter. Allianz Asset Management GmbH owned about 0.05% of Ferrari worth $53,177,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Garde Capital Inc. lifted its holdings in shares of Ferrari by 5.0% during the 4th quarter. Garde Capital Inc. now owns 525 shares of the company's stock worth $223,000 after acquiring an additional 25 shares during the period. Rehmann Capital Advisory Group lifted its holdings in shares of Ferrari by 3.9% during the 1st quarter. Rehmann Capital Advisory Group now owns 697 shares of the company's stock worth $299,000 after acquiring an additional 26 shares during the period. Fifth Third Bancorp raised its holdings in Ferrari by 7.9% in the first quarter. Fifth Third Bancorp now owns 424 shares of the company's stock valued at $181,000 after buying an additional 31 shares during the period. Wealth Alliance LLC raised its holdings in Ferrari by 2.5% in the first quarter. Wealth Alliance LLC now owns 1,254 shares of the company's stock valued at $537,000 after buying an additional 31 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in Ferrari by 1.3% in the first quarter. International Assets Investment Management LLC now owns 2,711 shares of the company's stock valued at $1,160,000 after buying an additional 34 shares during the period.

Ferrari Stock Up 0.3%

Shares of RACE stock traded up $1.48 during mid-day trading on Friday, reaching $517.68. 189,887 shares of the company were exchanged, compared to its average volume of 401,227. The business's 50 day simple moving average is $485.06 and its 200 day simple moving average is $462.46. Ferrari N.V. has a fifty-two week low of $391.54 and a fifty-two week high of $519.10. The company has a market capitalization of $125.47 billion, a P/E ratio of 54.76, a P/E/G ratio of 5.67 and a beta of 1.09. 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 announced 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 firm had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.82 billion. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. The firm's revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the business posted $1.95 earnings per share. Research analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on RACE. JPMorgan Chase & Co. cut their price target on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Wall Street Zen lowered shares of Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. UBS Group increased their price objective on shares of Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Ferrari presently has a consensus rating of "Moderate Buy" and an average target price 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.