Ferrari (NYSE:RACE) Position Increased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its stake in Ferrari (NYSE:RACE) by 7.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,454 shares of the company’s stock after purchasing an additional 168 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Ferrari were worth $1,154,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in Ferrari by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 4,549,934 shares of the company’s stock valued at $1,983,498,000 after acquiring an additional 61,588 shares during the period. Capital Research Global Investors increased its position 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 purchasing an additional 49,367 shares during the period. Legal & General Group Plc increased its position 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 purchasing an additional 30,014 shares during the period. International Assets Investment Management LLC increased its position in shares of Ferrari by 47,023.5% during the 3rd 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 during the period. Finally, Capital International Investors increased its position 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 purchasing an additional 791,596 shares during the period.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. UBS Group lifted their price target on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley lifted their price target on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $385.00 to $525.00 in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Ferrari has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Trading Up 0.9 %

Shares of Ferrari stock opened at $434.98 on Tuesday. The business has a fifty day simple moving average of $465.48 and a 200-day simple moving average of $442.44. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a 12 month low of $330.15 and a 12 month high of $498.23.

Ferrari (NYSE:RACE) last issued its earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the business earned $1.98 EPS. Equities analysts predict that Ferrari will post 8.75 earnings per share for the current fiscal 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.