440 Shares in Ferrari (NYSE:RACE) Bought by Clarius Group LLC

Clarius Group LLC bought a new position in Ferrari (NYSE:RACE) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 440 shares of the company’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Ferrari by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 4,549,934 shares of the company’s stock valued at $1,983,498,000 after buying an additional 61,588 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Ferrari by 3.9% during the 1st quarter. Capital Research Global Investors now owns 1,329,714 shares of the company’s stock valued at $579,585,000 after buying an additional 49,367 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Ferrari by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 1,256,482 shares of the company’s stock valued at $512,660,000 after buying an additional 30,014 shares during the last quarter. Capital International Investors raised its stake in shares of Ferrari by 314.3% during the 1st quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock valued at $454,792,000 after buying an additional 791,596 shares during the last quarter. Finally, Capital World Investors raised its stake in shares of Ferrari by 34.3% during the 1st quarter. Capital World Investors now owns 962,583 shares of the company’s stock valued at $419,547,000 after buying an additional 245,872 shares during the last quarter.

Ferrari Trading Up 3.5 %

RACE stock opened at $469.08 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 12-month low of $296.34 and a 12-month high of $498.23. The stock has a market cap of $86.66 billion, a price-to-earnings ratio of 59.91, a PEG ratio of 4.76 and a beta of 0.99. The business’s 50-day moving average is $463.70 and its 200 day moving average is $433.94.

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

Analyst Ratings Changes

RACE has been the subject of a number of recent research reports. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. UBS Group lifted their price objective on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research note on Monday, June 24th. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Morgan Stanley lifted their price target on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Finally, JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $385.00 to $525.00 in a research note on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $487.86.

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.