Flossbach Von Storch SE Buys 7,745 Shares of Ferrari N.V. (NYSE:RACE)

Flossbach Von Storch SE boosted its stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 18.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 49,236 shares of the company's stock after buying an additional 7,745 shares during the period. Flossbach Von Storch SE's holdings in Ferrari were worth $20,886,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. HBK Sorce Advisory LLC increased its stake in Ferrari by 3.6% in the fourth quarter. HBK Sorce Advisory LLC now owns 626 shares of the company's stock worth $266,000 after purchasing an additional 22 shares during the period. Citizens Financial Group Inc. RI increased its stake in Ferrari by 4.4% in the fourth quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company's stock worth $251,000 after purchasing an additional 25 shares during the period. Garde Capital Inc. increased its stake in Ferrari by 5.0% in the fourth quarter. Garde Capital Inc. now owns 525 shares of the company's stock worth $223,000 after purchasing an additional 25 shares during the period. PDS Planning Inc increased its stake in Ferrari by 4.8% in the fourth quarter. PDS Planning Inc now owns 589 shares of the company's stock worth $250,000 after purchasing an additional 27 shares during the period. Finally, Fifth Third Bancorp increased its stake in Ferrari by 7.9% in the first quarter. Fifth Third Bancorp now owns 424 shares of the company's stock worth $181,000 after purchasing an additional 31 shares during the period.

Analyst Upgrades and Downgrades

RACE has been the topic of a number of recent analyst reports. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. UBS Group increased their price target on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Wall Street Zen downgraded Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. dropped their price target on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $526.25.

Ferrari Stock Down 1.5%

RACE stock traded down $7.43 during trading on Friday, reaching $490.51. 268,265 shares of the company traded hands, compared to its average volume of 347,112. Ferrari N.V. has a 12 month low of $391.54 and a 12 month high of $509.13. The business has a 50 day simple moving average of $481.54 and a 200 day simple moving average of $457.65. The company has a market capitalization of $118.89 billion, a price-to-earnings ratio of 51.91, a price-to-earnings-growth ratio of 5.66 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 issued its quarterly earnings data 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. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the company earned $1.95 earnings per share. The firm's revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities research analysts anticipate that Ferrari N.V. will post 9.22 earnings per share 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.