Novem Group Increases Holdings in Ferrari N.V. (NYSE:RACE)

Novem Group increased its stake in Ferrari N.V. (NYSE:RACE - Free Report) by 33.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,580 shares of the company's stock after acquiring an additional 647 shares during the period. Novem Group's holdings in Ferrari were worth $1,104,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RACE. Vanguard Group Inc. boosted its holdings in shares of Ferrari by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company's stock worth $2,002,581,000 after purchasing an additional 45,754 shares during the period. Bank of Italy lifted its position in Ferrari by 2.9% in the first quarter. Bank of Italy now owns 2,407,271 shares of the company's stock worth $1,021,078,000 after buying an additional 67,651 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Ferrari by 49.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock worth $763,125,000 after buying an additional 594,547 shares during the period. Norges Bank bought a new position in Ferrari during the fourth quarter valued at $697,226,000. Finally, Marshall Wace LLP raised its stake in shares of Ferrari by 62.1% in the fourth quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock valued at $579,561,000 after acquiring an additional 520,337 shares during the period.

Ferrari Stock Up 0.3%

Shares of NYSE:RACE opened at $491.00 on Thursday. The business's 50 day moving average is $477.28 and its 200 day moving average is $454.70. The stock has a market cap of $119.01 billion, a P/E ratio of 51.96, a price-to-earnings-growth ratio of 5.57 and a beta of 1.09. Ferrari N.V. has a 52-week low of $391.54 and a 52-week high of $509.13. The company has a quick ratio of 4.04, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.06. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.82 billion. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. The business's revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.95 EPS. Sell-side analysts predict that Ferrari N.V. will post 9.22 EPS for the current year.

Analyst Upgrades and Downgrades

RACE has been the subject of a number of recent analyst reports. Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. JPMorgan Chase & Co. decreased their price objective on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. UBS Group upped their target price on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $526.25.

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.

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