Toronto Dominion Bank Raises Holdings in Ferrari (NYSE:RACE)

Toronto Dominion Bank increased its position in Ferrari (NYSE:RACE) by 194.4% in the 2nd quarter, Holdings Channel reports. The firm owned 6,565 shares of the company’s stock after buying an additional 4,335 shares during the period. Toronto Dominion Bank’s holdings in Ferrari were worth $2,681,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in RACE. Steward Partners Investment Advisory LLC boosted its holdings in shares of Ferrari by 6,637.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,099 shares of the company’s stock valued at $1,049,000 after acquiring an additional 3,053 shares during the period. Stifel Financial Corp grew its position in Ferrari by 2.3% during the 4th quarter. Stifel Financial Corp now owns 62,761 shares of the company’s stock worth $21,241,000 after purchasing an additional 1,439 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in Ferrari by 2.9% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,399 shares of the company’s stock valued at $473,000 after purchasing an additional 40 shares during the period. Scotia Capital Inc. raised its holdings in shares of Ferrari by 6.3% in the fourth quarter. Scotia Capital Inc. now owns 1,563 shares of the company’s stock valued at $529,000 after buying an additional 92 shares during the last quarter. Finally, FinTrust Capital Advisors LLC raised its holdings in shares of Ferrari by 86.5% in the fourth quarter. FinTrust Capital Advisors LLC now owns 138 shares of the company’s stock valued at $47,000 after buying an additional 64 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RACE shares. Morgan Stanley boosted 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 raised Ferrari from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. Finally, UBS Group lifted their price objective on shares of Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research report on Monday, June 24th. 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’s stock. Based on data from MarketBeat.com, Ferrari currently has an average rating of “Moderate Buy” and an average price target of $481.67.

Ferrari Trading Down 1.3 %

NYSE:RACE opened at $471.68 on Monday. Ferrari has a 1 year low of $289.92 and a 1 year high of $498.23. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01. The stock has a fifty day moving average price of $455.73 and a two-hundred day moving average price of $432.12.

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