Ferrari (NYSE:RACE) Shares Acquired by Sunbelt Securities Inc.

Sunbelt Securities Inc. lifted its stake in shares of Ferrari (NYSE:RACE) by 31.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 379 shares of the company’s stock after acquiring an additional 91 shares during the quarter. Sunbelt Securities Inc.’s holdings in Ferrari were worth $155,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Capital International Investors raised its holdings in shares of Ferrari by 314.3% in the 1st quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock valued at $454,792,000 after purchasing an additional 791,596 shares in the last quarter. Marshall Wace LLP increased its holdings in Ferrari by 108.4% in the second quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock valued at $361,961,000 after buying an additional 461,409 shares during the last quarter. Clearbridge Investments LLC raised its stake in Ferrari by 6,024.9% in the first quarter. Clearbridge Investments LLC now owns 380,910 shares of the company’s stock valued at $166,054,000 after buying an additional 374,691 shares in the last quarter. Capital World Investors boosted its position in shares of Ferrari by 34.3% during the 1st quarter. Capital World Investors now owns 962,583 shares of the company’s stock worth $419,547,000 after acquiring an additional 245,872 shares in the last quarter. Finally, Capital International Inc. CA increased its holdings in shares of Ferrari by 207.3% in the 1st quarter. Capital International Inc. CA now owns 237,277 shares of the company’s stock valued at $103,419,000 after acquiring an additional 160,055 shares during the last quarter.

Ferrari Trading Down 1.5 %

Shares of RACE opened at $450.09 on Friday. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01. Ferrari has a fifty-two week low of $294.42 and a fifty-two week high of $498.23. The firm has a 50-day simple moving average of $458.99 and a 200-day simple moving average of $432.98.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Thursday, August 1st. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.08. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period last year, the firm earned $1.99 EPS. Equities analysts forecast that Ferrari will post 8.81 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on RACE. UBS Group boosted their target price on Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Morgan Stanley lifted their price target on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Finally, Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $481.67.

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.