Whittier Trust Co. of Nevada Inc. Has $1.51 Million Stock Holdings in Ferrari N.V. (NYSE:RACE)

Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 97.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,536 shares of the company's stock after purchasing an additional 1,749 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in Ferrari were worth $1,513,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new position in Ferrari during the 4th quarter worth $32,000. Alpine Bank Wealth Management bought a new position in shares of Ferrari in the first quarter worth $33,000. Webster Bank N. A. bought a new position in shares of Ferrari in the first quarter worth $43,000. Cornerstone Planning Group LLC increased its position in shares of Ferrari by 140.5% in the first quarter. Cornerstone Planning Group LLC now owns 101 shares of the company's stock worth $45,000 after purchasing an additional 59 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Ferrari in the first quarter worth $48,000.

Analyst Ratings Changes

RACE has been the topic of a number of recent analyst reports. Wall Street Zen cut Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a research report on Friday, March 28th. UBS Group raised their price target on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. decreased their price target on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $526.25.

Ferrari Price Performance

Ferrari stock traded down $0.20 during midday trading on Friday, reaching $505.99. The company's stock had a trading volume of 372,257 shares, compared to its average volume of 407,128. Ferrari N.V. has a 52 week low of $391.54 and a 52 week high of $510.59. The company has a current ratio of 5.09, a quick ratio of 4.04 and a debt-to-equity ratio of 0.93. The business has a 50-day moving average price of $483.24 and a 200-day moving average price of $459.45. The stock has a market cap of $122.64 billion, a PE ratio of 53.54, a price-to-earnings-growth ratio of 5.54 and a beta of 1.09.

Ferrari (NYSE:RACE - Get Free Report) last released its 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. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. The firm had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.82 billion. During the same quarter in the previous year, the business posted $1.95 earnings per share. The business's revenue for the quarter was up 13.0% on a year-over-year basis. On average, sell-side analysts predict that Ferrari N.V. will post 9.22 EPS for the current year.

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.