USS Investment Management Ltd Buys 584 Shares of Ferrari (NYSE:RACE)

USS Investment Management Ltd lifted its stake in Ferrari (NYSE:RACE - Free Report) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,121 shares of the company's stock after purchasing an additional 584 shares during the quarter. USS Investment Management Ltd's holdings in Ferrari were worth $11,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in RACE. Hanson & Doremus Investment Management purchased a new stake in shares of Ferrari during the 4th quarter worth about $26,000. Kestra Investment Management LLC bought a new stake in shares of Ferrari in the 4th quarter valued at approximately $45,000. Plato Investment Management Ltd acquired a new position in Ferrari in the fourth quarter worth approximately $53,000. Newbridge Financial Services Group Inc. raised its position in Ferrari by 705.9% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company's stock valued at $58,000 after acquiring an additional 120 shares in the last quarter. Finally, Pittenger & Anderson Inc. raised its position in Ferrari by 53.2% during the fourth quarter. Pittenger & Anderson Inc. now owns 144 shares of the company's stock valued at $61,000 after acquiring an additional 50 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have recently commented on RACE. Wall Street Zen lowered shares of Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. UBS Group upped 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. JPMorgan Chase & Co. lowered their target price on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Finally, Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $526.25.

Ferrari Stock Performance

NYSE:RACE traded down $15.22 during midday trading on Monday, reaching $476.08. The stock had a trading volume of 487,411 shares, compared to its average volume of 332,703. The stock has a market capitalization of $115.39 billion, a P/E ratio of 52.03, a PEG ratio of 4.43 and a beta of 1.13. Ferrari has a 1-year low of $391.54 and a 1-year high of $509.13. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The firm's fifty day simple moving average is $451.37 and its 200-day simple moving average is $448.02.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. The company had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.82 billion. Ferrari had a net margin of 22.81% and a return on equity of 46.69%. The business's quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.95 earnings per share. On average, equities research analysts forecast that Ferrari will post 9.22 EPS 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.