Thrivent Financial for Lutherans Acquires 1,051 Shares of Ferrari (NYSE:RACE)

Thrivent Financial for Lutherans grew its holdings in Ferrari (NYSE:RACE) by 63.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,709 shares of the company’s stock after acquiring an additional 1,051 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Ferrari were worth $1,274,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Ferrari by 3,806.5% during the 2nd quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock worth $528,000 after purchasing an additional 1,180 shares in the last quarter. Raymond James & Associates increased its holdings in Ferrari by 1.3% in the 2nd quarter. Raymond James & Associates now owns 50,247 shares of the company’s stock valued at $20,519,000 after buying an additional 655 shares during the period. Gateway Investment Advisers LLC raised its stake in shares of Ferrari by 46.7% in the 2nd quarter. Gateway Investment Advisers LLC now owns 6,864 shares of the company’s stock valued at $2,803,000 after buying an additional 2,185 shares in the last quarter. Rheos Capital Works Inc. lifted its holdings in shares of Ferrari by 30.3% during the 3rd quarter. Rheos Capital Works Inc. now owns 111,700 shares of the company’s stock worth $52,511,000 after acquiring an additional 26,000 shares during the period. Finally, LRI Investments LLC boosted its position in shares of Ferrari by 379.0% during the 2nd quarter. LRI Investments LLC now owns 958 shares of the company’s stock valued at $391,000 after acquiring an additional 758 shares in the last quarter.

Ferrari Trading Up 0.6 %

Shares of RACE stock opened at $434.16 on Monday. The stock’s fifty day moving average is $459.00 and its 200-day moving average is $443.68. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a 52 week low of $330.15 and a 52 week high of $498.23.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the business posted $1.98 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Ferrari will post 8.58 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on RACE shares. UBS Group increased their price target on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Morgan Stanley raised their target price on Ferrari from $400.00 to $520.00 and gave the stock 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. Evercore ISI lifted their price objective on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $385.00 to $525.00 in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $507.14.

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.