Comerica Bank Grows Position in Ferrari (NYSE:RACE)

Comerica Bank raised its holdings in Ferrari (NYSE:RACEGet Rating) by 5.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,986 shares of the company’s stock after acquiring an additional 352 shares during the quarter. Comerica Bank’s holdings in Ferrari were worth $1,339,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RACE. Price T Rowe Associates Inc. MD raised its holdings in shares of Ferrari by 26.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,828,240 shares of the company’s stock valued at $1,619,760,000 after buying an additional 1,844,364 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Ferrari by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 4,242,136 shares of the company’s stock valued at $925,168,000 after buying an additional 151,938 shares in the last quarter. FMR LLC raised its holdings in shares of Ferrari by 14.1% during the 2nd quarter. FMR LLC now owns 2,718,095 shares of the company’s stock valued at $498,880,000 after buying an additional 336,380 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Ferrari by 3.3% during the 1st quarter. BlackRock Inc. now owns 1,066,538 shares of the company’s stock valued at $232,602,000 after buying an additional 33,643 shares in the last quarter. Finally, AKO Capital LLP raised its holdings in shares of Ferrari by 0.3% during the 2nd quarter. AKO Capital LLP now owns 954,924 shares of the company’s stock valued at $175,133,000 after buying an additional 3,044 shares in the last quarter. Hedge funds and other institutional investors own 32.21% of the company’s stock.

Ferrari Trading Up 1.8 %

NYSE RACE opened at $242.38 on Monday. The company has a quick ratio of 3.74, a current ratio of 4.47 and a debt-to-equity ratio of 1.21. Ferrari has a twelve month low of $167.45 and a twelve month high of $242.64. The firm has a market capitalization of $44.78 billion, a PE ratio of 44.31, a P/E/G ratio of 3.48 and a beta of 0.97. The stock’s 50 day moving average is $221.31 and its 200 day moving average is $205.96.

Ferrari (NYSE:RACEGet Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.10. Ferrari had a return on equity of 40.02% and a net margin of 19.00%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.15 billion. Research analysts forecast that Ferrari will post 5.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RACE has been the topic of several recent research reports. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Friday. Morgan Stanley reduced their price target on Ferrari from $300.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, November 3rd. Citigroup upgraded Ferrari from a “sell” rating to a “neutral” rating and set a $230.60 price target on the stock in a research report on Monday, January 9th. HSBC upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Thursday, October 27th. Finally, Royal Bank of Canada raised their price target on Ferrari from €261.00 ($283.70) to €265.00 ($288.04) in a research report on Monday, December 12th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $241.56.

Ferrari Profile

(Get Rating)

Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hyper cars; one-off and track cars; and Icona cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

See Also

Want to see what other hedge funds are holding RACE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferrari (NYSE:RACEGet Rating).

Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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