Vanguard Group Inc. Raises Stock Holdings in Ferrari N.V. (NYSE:RACE)

Key Points

• Vanguard Group Inc. increased its stake in Ferrari N.V. by 8.1% during the first quarter, acquiring an additional 377,929 shares, bringing its total holdings to over 5 million shares valued at approximately $2.17 billion.
• Ferrari reported a quarterly earnings per share (EPS) of $2.70, surpassing analyst expectations of $2.57, with a net margin of 22.95% and revenue of $2.12 billion.
• Several research firms have recently adjusted their ratings on Ferrari, with UBS increasing its price target to $560 while reports indicate a consensus rating of "Moderate Buy" with a target price of around $526.25.

Vanguard Group Inc. raised its stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 8.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,071,130 shares of the company's stock after purchasing an additional 377,929 shares during the quarter. Vanguard Group Inc. owned approximately 2.09% of Ferrari worth $2,165,683,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bridgewater Advisors Inc. bought a new stake in shares of Ferrari in the 1st quarter worth approximately $492,000. Zurich Insurance Group Ltd FI boosted its holdings in Ferrari by 13.2% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 79,796 shares of the company's stock worth $34,042,000 after acquiring an additional 9,274 shares in the last quarter. Thoroughbred Financial Services LLC boosted its holdings in Ferrari by 39.7% in the first quarter. Thoroughbred Financial Services LLC now owns 10,286 shares of the company's stock worth $4,401,000 after acquiring an additional 2,925 shares in the last quarter. Banco Santander S.A. boosted its holdings in Ferrari by 35.3% in the first quarter. Banco Santander S.A. now owns 560,999 shares of the company's stock worth $240,040,000 after acquiring an additional 146,279 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Ferrari by 2.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 85,614 shares of the company's stock worth $36,271,000 after purchasing an additional 2,144 shares in the last quarter.

Ferrari Stock Performance

RACE stock traded up $4.53 during trading on Tuesday, reaching $445.88. The stock had a trading volume of 353,350 shares, compared to its average volume of 427,906. The firm has a market cap of $108.07 billion, a PE ratio of 46.01, a PEG ratio of 4.82 and a beta of 1.09. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89. The stock's 50 day moving average is $479.78 and its two-hundred day moving average is $465.63. Ferrari N.V. has a 52 week low of $391.54 and a 52 week high of $519.10.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.57 by $0.13. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter last year, the firm posted $2.29 earnings per share. The firm's revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RACE shares. Citigroup reiterated a "sell" rating on shares of Ferrari in a research note on Monday. Cfra Research cut shares of Ferrari from a "hold" rating to a "moderate sell" rating in a research note on Thursday, July 31st. Wall Street Zen cut shares of Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ferrari in a research note on Monday, August 4th. Finally, 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.