University of Chicago Invests $321,000 in Ferrari N.V. (NYSE:RACE)

Key Points

• The University of Chicago has invested approximately $321,000 in Ferrari N.V. by purchasing 750 shares in the first quarter, making it the university’s fifth largest holding.
• Ferrari reported $2.42 EPS for the last quarter, beating analysts' estimates, with revenues reaching $1.94 billion, up 13.0% compared to the previous year.
• Analysts have given Ferrari an average rating of "Moderate Buy" with a price target of $526.25, with some upgrades and downgrades occurring recently among major financial institutions.

University of Chicago acquired a new position in shares of Ferrari N.V. (NYSE:RACE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 750 shares of the company's stock, valued at approximately $321,000. Ferrari makes up about 0.5% of University of Chicago's investment portfolio, making the stock its 5th biggest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in Ferrari by 49.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock valued at $763,125,000 after purchasing an additional 594,547 shares in the last quarter. Barclays PLC lifted its position in Ferrari by 198.0% in the 4th quarter. Barclays PLC now owns 853,971 shares of the company's stock valued at $362,802,000 after acquiring an additional 567,407 shares in the last quarter. Marshall Wace LLP boosted its stake in Ferrari by 62.1% during the 4th quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock valued at $579,561,000 after purchasing an additional 520,337 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in Ferrari by 270.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 164,235 shares of the company's stock worth $69,774,000 after purchasing an additional 119,911 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Ferrari in the first quarter worth approximately $37,556,000.

Analyst Ratings Changes

Several research analysts recently issued reports on RACE shares. UBS Group lifted their target price on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Wall Street Zen lowered shares of Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $526.25.

Ferrari Price Performance

RACE traded down $5.96 during trading on Wednesday, reaching $499.46. 298,238 shares of the company were exchanged, compared to its average volume of 276,234. 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 market cap of $121.06 billion, a price-to-earnings ratio of 52.85, a P/E/G ratio of 5.54 and a beta of 1.09. Ferrari N.V. has a 12-month low of $391.54 and a 12-month high of $519.10. The company's 50-day moving average is $485.78 and its two-hundred day moving average is $464.32.

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