Martin Currie Ltd. Acquires 24,514 Shares of Ferrari N.V. (NYSE:RACE)

Key Points

• Martin Currie Ltd. increased its stake in Ferrari N.V. by 6.7%, acquiring an additional 24,514 shares, bringing its total holdings to 390,093 shares.
• Ferrari's recent earnings report showed an EPS of $2.70, surpassing estimates, and a net margin of 22.95% for the quarter.
• The company's stock has a market capitalization of $112.63 billion and a consensus target price of $526.25 among analysts.

Martin Currie Ltd. increased its holdings in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 6.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 390,093 shares of the company's stock after buying an additional 24,514 shares during the quarter. Ferrari accounts for approximately 6.7% of Martin Currie Ltd.'s holdings, making the stock its 4th largest holding. Martin Currie Ltd. owned 0.16% of Ferrari worth $166,724,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in RACE. Raymond James Financial Inc. acquired a new stake in Ferrari during the 4th quarter worth $27,657,000. Rockefeller Capital Management L.P. raised its holdings in shares of Ferrari by 9.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 11,691 shares of the company's stock worth $4,968,000 after acquiring an additional 1,050 shares during the period. Mariner LLC raised its holdings in shares of Ferrari by 2.3% during the fourth quarter. Mariner LLC now owns 13,494 shares of the company's stock worth $5,733,000 after acquiring an additional 302 shares during the period. CreativeOne Wealth LLC raised its holdings in shares of Ferrari by 4.2% during the fourth quarter. CreativeOne Wealth LLC now owns 2,307 shares of the company's stock worth $980,000 after acquiring an additional 92 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Ferrari by 184.9% during the fourth quarter. Canada Pension Plan Investment Board now owns 41,380 shares of the company's stock worth $17,639,000 after acquiring an additional 26,856 shares during the period.

Ferrari Stock Up 3.0%

Shares of RACE stock 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. Ferrari N.V. has a 1 year low of $391.54 and a 1 year high of $519.10. The firm's fifty day moving average price is $478.28 and its two-hundred day moving average price is $465.62. The firm has a market capitalization of $112.63 billion, a P/E ratio of 47.96, a PEG ratio of 4.88 and a beta of 1.09.

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

Analyst Upgrades and Downgrades

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

Ferrari Company 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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