Ferrari N.V. (NYSE:RACE) Stake Lifted by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Ferrari N.V. by 11.1%, owning approximately 0.06% of the company worth $60.57 million after adding 14,234 shares in the 1st quarter.
• Several institutional investors, including GW&K Investment Management, have significantly increased their positions in Ferrari, reflecting strong interest in the stock.
• Analysts have different ratings on Ferrari, with seven analysts giving a "buy" rating and a current average target price of $526.25, despite some rating downgrades from firms like Cfra Research and Wall Street Zen.

Russell Investments Group Ltd. grew its position in Ferrari N.V. (NYSE:RACE - Free Report) by 11.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,716 shares of the company's stock after buying an additional 14,234 shares during the quarter. Russell Investments Group Ltd. owned 0.06% of Ferrari worth $60,574,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sound View Wealth Advisors Group LLC lifted its stake in shares of Ferrari by 1.0% in the 1st quarter. Sound View Wealth Advisors Group LLC now owns 2,198 shares of the company's stock valued at $940,000 after purchasing an additional 21 shares in the last quarter. Garde Capital Inc. lifted its stake in shares of Ferrari by 5.0% in the 4th quarter. Garde Capital Inc. now owns 525 shares of the company's stock valued at $223,000 after purchasing an additional 25 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake in shares of Ferrari by 3.9% in the 1st quarter. Rehmann Capital Advisory Group now owns 697 shares of the company's stock valued at $299,000 after purchasing an additional 26 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Ferrari by 7.9% in the 1st quarter. Fifth Third Bancorp now owns 424 shares of the company's stock valued at $181,000 after purchasing an additional 31 shares in the last quarter. Finally, Wealth Alliance LLC lifted its stake in shares of Ferrari by 2.5% in the 1st quarter. Wealth Alliance LLC now owns 1,254 shares of the company's stock valued at $537,000 after purchasing an additional 31 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RACE. UBS Group lifted their price objective on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Cfra Research lowered Ferrari from a "hold" rating to a "moderate sell" rating in a research report on Thursday, July 31st. Citigroup reissued a "sell" rating on shares of Ferrari in a research report on Monday. Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. One equities 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, Ferrari currently has an average rating of "Moderate Buy" and an average price target of $526.25.

Ferrari Stock Performance

Shares of RACE stock traded down $4.01 on Friday, hitting $460.42. 314,075 shares of the stock traded hands, compared to its average volume of 585,004. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. The company has a market capitalization of $111.60 billion, a PE ratio of 47.52, a PEG ratio of 5.02 and a beta of 1.09. Ferrari N.V. has a 1-year low of $391.54 and a 1-year high of $519.10. The company's fifty day moving average is $477.83 and its 200 day moving average is $465.82.

Ferrari (NYSE:RACE - Get Free Report) last posted 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. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.05 billion. Ferrari had a return on equity of 45.41% and a net margin of 22.95%. The business's revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.29 EPS. On average, equities research analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

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.