US Bancorp DE Purchases 282 Shares of Ferrari (NYSE:RACE)

US Bancorp DE grew its holdings in shares of Ferrari (NYSE:RACE) by 1.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,483 shares of the company’s stock after purchasing an additional 282 shares during the quarter. US Bancorp DE’s holdings in Ferrari were worth $7,750,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Ferrari by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 4,549,934 shares of the company’s stock worth $1,983,498,000 after buying an additional 61,588 shares during the period. Capital Research Global Investors boosted its holdings in shares of Ferrari by 3.9% in the first quarter. Capital Research Global Investors now owns 1,329,714 shares of the company’s stock worth $579,585,000 after acquiring an additional 49,367 shares during the period. Legal & General Group Plc boosted its holdings in shares of Ferrari by 2.4% in the second quarter. Legal & General Group Plc now owns 1,256,482 shares of the company’s stock worth $512,660,000 after acquiring an additional 30,014 shares during the period. International Assets Investment Management LLC grew its position in shares of Ferrari by 47,023.5% in the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock valued at $5,551,600,000 after purchasing an additional 1,178,410 shares in the last quarter. Finally, Capital International Investors lifted its holdings in Ferrari by 314.3% during the 1st quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock worth $454,792,000 after purchasing an additional 791,596 shares in the last quarter.

Ferrari Trading Up 0.2 %

Shares of NYSE:RACE opened at $476.76 on Monday. The company’s fifty day moving average price is $474.09 and its 200-day moving average price is $440.24. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.35 and a quick ratio of 3.32. Ferrari has a one year low of $315.54 and a one year high of $498.23.

Ferrari (NYSE:RACE) last released its earnings results on Thursday, August 1st. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.08. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the firm earned $1.99 earnings per share. The firm’s revenue was up 16.1% on a year-over-year basis. As a group, analysts anticipate that Ferrari will post 8.65 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on RACE. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $385.00 to $525.00 in a report on Friday, October 11th. Morgan Stanley boosted their price objective on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Evercore ISI increased their target price on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Ferrari currently has an average rating of “Moderate Buy” and a consensus target price of $502.14.

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.