HighTower Advisors LLC Has $7.36 Million Holdings in Ferrari N.V. $RACE

Key Points

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HighTower Advisors LLC cut its position in Ferrari N.V. (NYSE:RACE - Free Report) by 13.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,253 shares of the company's stock after selling 2,788 shares during the quarter. HighTower Advisors LLC's holdings in Ferrari were worth $7,363,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RACE. Canada Pension Plan Investment Board grew its stake in Ferrari by 184.9% in the 4th quarter. Canada Pension Plan Investment Board now owns 41,380 shares of the company's stock valued at $17,639,000 after buying an additional 26,856 shares during the last quarter. First Trust Advisors LP grew its stake in Ferrari by 36.8% in the 4th quarter. First Trust Advisors LP now owns 15,485 shares of the company's stock valued at $6,584,000 after buying an additional 4,162 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Ferrari by 3.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 176,138 shares of the company's stock valued at $74,832,000 after buying an additional 6,662 shares during the last quarter. MetLife Investment Management LLC grew its stake in Ferrari by 30.7% in the 4th quarter. MetLife Investment Management LLC now owns 14,780 shares of the company's stock valued at $6,332,000 after buying an additional 3,474 shares during the last quarter. Finally, TD Waterhouse Canada Inc. grew its stake in Ferrari by 13.6% in the 4th quarter. TD Waterhouse Canada Inc. now owns 9,319 shares of the company's stock valued at $3,955,000 after buying an additional 1,116 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts have weighed in on RACE shares. Cfra Research downgraded shares of Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. UBS Group increased their price target on shares of Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a report on Monday, August 4th. Wall Street Zen downgraded shares of Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Citigroup reissued a "sell" rating on shares of Ferrari in a report on Monday, August 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $526.25.

Ferrari Price Performance

NYSE:RACE opened at $463.56 on Tuesday. The company has a 50-day moving average of $477.52 and a 200-day moving average of $466.55. The company has a market capitalization of $112.36 billion, a price-to-earnings ratio of 47.84, a PEG ratio of 4.98 and a beta of 1.09. 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 quick ratio of 3.94 and a current ratio of 5.09.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.70 EPS for the quarter, topping analysts' consensus estimates of $2.57 by $0.13. The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.05 billion. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the firm earned $2.29 EPS. As a group, equities research analysts anticipate that Ferrari N.V. 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.

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