Invesco Ltd. Buys 133,334 Shares of Ferrari N.V. (NYSE:RACE)

Invesco Ltd. raised its stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 78.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 303,869 shares of the company's stock after purchasing an additional 133,334 shares during the period. Invesco Ltd. owned 0.13% of Ferrari worth $130,019,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of RACE. Goldman Sachs Group Inc. grew its holdings in Ferrari by 52.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company's stock valued at $974,332,000 after purchasing an additional 781,587 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Ferrari by 49.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock valued at $763,125,000 after acquiring an additional 594,547 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Ferrari by 8.1% in the first quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company's stock valued at $2,165,683,000 after acquiring an additional 377,929 shares in the last quarter. Citigroup Inc. lifted its position in shares of Ferrari by 155.1% in the first quarter. Citigroup Inc. now owns 269,862 shares of the company's stock valued at $115,469,000 after acquiring an additional 164,092 shares in the last quarter. Finally, Banco Santander S.A. lifted its position in shares of Ferrari by 35.3% in the first quarter. Banco Santander S.A. now owns 560,999 shares of the company's stock valued at $240,040,000 after acquiring an additional 146,279 shares in the last quarter.

Ferrari Price Performance

NYSE:RACE opened at $464.68 on Friday. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $112.63 billion, a P/E ratio of 47.96, a P/E/G ratio of 4.88 and a beta of 1.09. Ferrari N.V. has a 12 month low of $391.54 and a 12 month high of $519.10. The business's 50-day moving average is $478.28 and its 200 day moving average is $465.62.

Ferrari (NYSE:RACE - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, topping analysts' consensus estimates of $2.57 by $0.13. Ferrari had a return on equity of 45.41% and a net margin of 22.95%. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the business earned $2.29 earnings per share. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts forecast that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on RACE shares. Cfra Research downgraded Ferrari from a "hold" rating to a "moderate sell" rating in a research report on Thursday, July 31st. UBS Group boosted their price objective on Ferrari from $520.00 to $560.00 and gave the company 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. Royal Bank Of Canada restated an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Finally, Citigroup reiterated a "sell" rating on shares of Ferrari in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $526.25.

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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