Versant Capital Management Inc Acquires 697 Shares of Ferrari (NYSE:RACE)

Versant Capital Management Inc raised its stake in Ferrari (NYSE:RACE - Free Report) by 1,366.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 748 shares of the company's stock after acquiring an additional 697 shares during the quarter. Versant Capital Management Inc's holdings in Ferrari were worth $317,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in RACE. Park Square Financial Group LLC acquired a new position in Ferrari during the 4th quarter worth approximately $32,000. Kestra Investment Management LLC acquired a new position in shares of Ferrari during the fourth quarter worth $45,000. Plato Investment Management Ltd bought a new position in shares of Ferrari in the 4th quarter valued at $53,000. Newbridge Financial Services Group Inc. boosted its holdings in shares of Ferrari by 705.9% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company's stock valued at $58,000 after acquiring an additional 120 shares in the last quarter. Finally, Pittenger & Anderson Inc. grew its position in Ferrari by 53.2% during the 4th quarter. Pittenger & Anderson Inc. now owns 144 shares of the company's stock worth $61,000 after acquiring an additional 50 shares during the last quarter.

Analyst Upgrades and Downgrades

RACE has been the subject of several research reports. JPMorgan Chase & Co. dropped their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a report on Thursday, February 6th. They set a "hold" rating on the stock. Finally, UBS Group raised their price target 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. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $526.25.

Ferrari Trading Up 0.2%

Shares of RACE traded up $0.83 during mid-day trading on Monday, reaching $479.59. 356,406 shares of the company were exchanged, compared to its average volume of 335,023. The business has a 50 day simple moving average of $455.16 and a two-hundred day simple moving average of $449.19. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The stock has a market capitalization of $116.24 billion, a PE ratio of 52.41, a PEG ratio of 4.43 and a beta of 1.13. Ferrari has a 52 week low of $391.54 and a 52 week high of $509.13.

Ferrari (NYSE:RACE - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 22.81% and a return on equity of 46.69%. The company's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.95 EPS. On average, analysts predict that Ferrari will post 9.22 earnings per share for the current fiscal 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.