Lansforsakringar Fondforvaltning AB publ Purchases Shares of 42,817 Ferrari (NYSE:RACE)

Lansforsakringar Fondforvaltning AB publ bought a new stake in Ferrari (NYSE:RACE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 42,817 shares of the company's stock, valued at approximately $18,276,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Park Square Financial Group LLC purchased a new stake in shares of Ferrari in the fourth quarter valued at $32,000. Brucke Financial Inc. bought a new position in shares of Ferrari in the fourth quarter worth about $502,000. Jefferies Financial Group Inc. grew its holdings in shares of Ferrari by 113.4% in the fourth quarter. Jefferies Financial Group Inc. now owns 6,615 shares of the company's stock worth $2,825,000 after purchasing an additional 56,008 shares during the last quarter. Tiptree Advisors LLC bought a new position in shares of Ferrari in the fourth quarter worth about $4,248,000. Finally, Capital A Wealth Management LLC bought a new position in shares of Ferrari in the fourth quarter worth about $141,000.

Analyst Ratings Changes

A number of research analysts have recently commented on RACE shares. Wall Street Zen cut shares of Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. UBS Group upped their price target on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a "hold" rating on the stock. Finally, Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $526.25.

Ferrari Stock Up 0.0%

Ferrari stock traded up $0.15 during midday trading on Friday, hitting $479.17. 321,594 shares of the company's stock were exchanged, compared to its average volume of 334,943. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a 12 month low of $391.54 and a 12 month high of $509.13. The firm has a 50-day moving average of $455.16 and a two-hundred day moving average of $449.19. The company has a market cap of $116.14 billion, a PE ratio of 52.37, a P/E/G ratio of 4.43 and a beta of 1.13.

Ferrari (NYSE:RACE - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.06. The company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.82 billion. Ferrari had a net margin of 22.81% and a return on equity of 46.69%. The firm's quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.95 EPS. As a group, analysts expect that Ferrari 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.