Ferrari N.V. (NYSE:RACE) Shares Bought by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. increased its holdings in Ferrari N.V. by 142.1%, owning a total of 4,859 shares valued at approximately $2,079,000.
• Several large investors have modified their stakes in Ferrari, with GW&K Investment Management LLC increasing its holdings by 288.9%.
• Ferrari reported earnings of $2.70 per share in its last quarter, exceeding estimates and marking a 4.4% year-over-year revenue increase.

Fox Run Management L.L.C. lifted its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 142.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,859 shares of the company's stock after purchasing an additional 2,852 shares during the period. Ferrari comprises 0.3% of Fox Run Management L.L.C.'s holdings, making the stock its 27th biggest position. Fox Run Management L.L.C.'s holdings in Ferrari were worth $2,079,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RACE. Sound View Wealth Advisors Group LLC grew its holdings in shares of Ferrari by 1.0% in the first quarter. Sound View Wealth Advisors Group LLC now owns 2,198 shares of the company's stock valued at $940,000 after purchasing an additional 21 shares in the last quarter. Garde Capital Inc. grew its holdings in 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 in the last quarter. Rehmann Capital Advisory Group grew its holdings in 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 in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Ferrari by 7.9% in the 1st quarter. Fifth Third Bancorp now owns 424 shares of the company's stock valued at $181,000 after buying an additional 31 shares in the last quarter. Finally, Wealth Alliance LLC raised its position in Ferrari by 2.5% in the 1st quarter. Wealth Alliance LLC now owns 1,254 shares of the company's stock valued at $537,000 after purchasing an additional 31 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Cfra Research cut shares of Ferrari from a "hold" rating to a "moderate sell" rating in a research note on Thursday, July 31st. 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 note on Wednesday, May 7th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ferrari in a research note on Monday, August 4th. Finally, Citigroup reissued a "sell" rating on shares of Ferrari in a research report on Monday, August 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $526.25.

Ferrari Trading Down 0.9%

NYSE RACE traded down $4.01 during mid-day trading on Friday, hitting $460.42. The company's stock had a trading volume of 314,075 shares, compared to its average volume of 585,004. The firm has a market capitalization of $111.60 billion, a P/E ratio of 47.52, a price-to-earnings-growth ratio of 4.98 and a beta of 1.09. The stock's fifty day simple moving average is $477.83 and its two-hundred day simple moving average is $466.08. Ferrari N.V. has a 52-week low of $391.54 and a 52-week high of $519.10. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94.

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