1,153 Shares in Ferrari (NYSE:RACE) Acquired by Cerity Partners LLC

Cerity Partners LLC bought a new position in shares of Ferrari (NYSE:RACEGet Rating) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 1,153 shares of the company’s stock, valued at approximately $211,000.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Ferrari by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 4,242,136 shares of the company’s stock worth $925,168,000 after buying an additional 151,938 shares during the period. BlackRock Inc. increased its stake in Ferrari by 3.3% during the 1st quarter. BlackRock Inc. now owns 1,066,538 shares of the company’s stock worth $232,602,000 after buying an additional 33,643 shares during the period. AKO Capital LLP increased its stake in Ferrari by 0.3% during the 2nd quarter. AKO Capital LLP now owns 954,924 shares of the company’s stock worth $175,133,000 after buying an additional 3,044 shares during the period. Pictet Asset Management SA increased its stake in Ferrari by 39.5% during the 2nd quarter. Pictet Asset Management SA now owns 697,118 shares of the company’s stock worth $127,686,000 after buying an additional 197,459 shares during the period. Finally, Martin Currie Ltd. increased its stake in Ferrari by 24.6% during the 1st quarter. Martin Currie Ltd. now owns 683,138 shares of the company’s stock worth $148,982,000 after buying an additional 135,048 shares during the period. 32.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RACE has been the topic of several recent research reports. UBS Group upped their target price on shares of Ferrari from $255.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Morgan Stanley lowered their price target on shares of Ferrari from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, November 3rd. HSBC upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, October 27th. Finally, StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, November 9th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $228.89.

Ferrari Trading Up 1.0 %

Shares of Ferrari stock opened at $216.36 on Wednesday. The company has a fifty day simple moving average of $195.82 and a 200-day simple moving average of $195.43. Ferrari has a 12-month low of $167.45 and a 12-month high of $271.95. The company has a current ratio of 4.47, a quick ratio of 3.74 and a debt-to-equity ratio of 1.21. The stock has a market cap of $39.97 billion, a price-to-earnings ratio of 39.55, a PEG ratio of 3.51 and a beta of 0.94.

Ferrari (NYSE:RACEGet Rating) last issued its earnings results on Wednesday, November 2nd. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.10. Ferrari had a net margin of 19.00% and a return on equity of 40.02%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.15 billion. On average, equities analysts forecast that Ferrari will post 5.13 EPS for the current fiscal year.

About Ferrari

(Get Rating)

Ferrari NV is a holding company, which engages in the design, engineering, production, and sale of luxury sports cars. The firm’s models include the F12Berlinetta, 488GTB, 488 Spider, 458 Speciale, California T, the LaFerrari Hybrid, LaFerrari, and the FF four-wheel drive. It participates in car racing such as Formula One.

Further Reading

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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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