Custom Index Systems LLC Grows Stock Position in Ferrari (NYSE:RACE)

Custom Index Systems LLC grew its position in shares of Ferrari (NYSE:RACE) by 7.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 873 shares of the company’s stock after buying an additional 61 shares during the period. Custom Index Systems LLC’s holdings in Ferrari were worth $410,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in Ferrari by 47,023.5% in 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 acquiring an additional 1,178,410 shares during the period. Capital International Investors raised its position in shares of Ferrari by 314.3% in the first 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. Marshall Wace LLP lifted its stake in shares of Ferrari by 108.4% during the 2nd quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock valued at $361,961,000 after buying an additional 461,409 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Ferrari by 6,024.9% in the 1st quarter. Clearbridge Investments LLC now owns 380,910 shares of the company’s stock worth $166,054,000 after buying an additional 374,691 shares during the period. Finally, Capital World Investors grew its stake in Ferrari by 34.3% in the 1st quarter. Capital World Investors now owns 962,583 shares of the company’s stock valued at $419,547,000 after buying an additional 245,872 shares in the last quarter.

Analyst Ratings Changes

RACE has been the topic of several recent research reports. Evercore ISI increased their target price on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley raised their price objective on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Finally, StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Ferrari presently has an average rating of “Moderate Buy” and a consensus price target of $502.14.

Ferrari Stock Performance

Ferrari stock opened at $484.73 on Monday. Ferrari has a fifty-two week low of $296.34 and a fifty-two week high of $498.23. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.32 and a current ratio of 4.35. The stock has a market cap of $89.55 billion, a P/E ratio of 61.91, a price-to-earnings-growth ratio of 5.08 and a beta of 0.99. The firm’s fifty day moving average price is $473.28 and its 200-day moving average price is $437.84.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.08. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.63 billion. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.99 earnings per share. On average, equities research analysts expect that Ferrari will post 8.65 earnings per share for the current fiscal year.

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.