Shariaportfolio Inc. Invests $991,000 in Ferrari N.V. (NYSE:RACE)

Shariaportfolio Inc. bought a new stake in Ferrari N.V. (NYSE:RACE - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,316 shares of the company's stock, valued at approximately $991,000. Ferrari comprises approximately 0.5% of Shariaportfolio Inc.'s portfolio, making the stock its 21st biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in RACE. Vanguard Group Inc. lifted its stake in shares of Ferrari by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company's stock worth $2,002,581,000 after buying an additional 45,754 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake 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 worth $763,125,000 after buying an additional 594,547 shares during the last quarter. Norges Bank acquired a new stake in shares of Ferrari in the fourth quarter worth $697,226,000. Bank of New York Mellon Corp lifted its stake in shares of Ferrari by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company's stock worth $684,888,000 after buying an additional 38,356 shares during the last quarter. Finally, Marshall Wace LLP lifted 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 worth $579,561,000 after buying an additional 520,337 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Ferrari Stock Performance

Ferrari stock traded up $11.52 on Tuesday, hitting $472.60. The company's stock had a trading volume of 442,594 shares, compared to its average volume of 341,636. The firm has a market cap of $114.55 billion, a P/E ratio of 50.01, a price-to-earnings-growth ratio of 5.35 and a beta of 1.10. The company has a quick ratio of 4.04, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The company has a fifty day moving average price of $471.75 and a 200-day moving average price of $453.27. Ferrari N.V. has a one year low of $391.54 and a one year high of $509.13.

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

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.