1,181 Shares in Ferrari (NYSE:RACE) Bought by Bennett Selby Investments LP

Bennett Selby Investments LP bought a new stake in Ferrari (NYSE:RACE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,181 shares of the company’s stock, valued at approximately $502,000.

A number of other institutional investors have also recently made changes to their positions in RACE. Jennison Associates LLC increased its position in shares of Ferrari by 910.1% during the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after purchasing an additional 2,636,869 shares in the last quarter. International Assets Investment Management LLC grew its stake in Ferrari by 47,023.5% during 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 purchasing an additional 1,178,410 shares during the last quarter. Quadrature Capital Ltd increased its holdings in shares of Ferrari by 83.7% in the third quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock valued at $108,417,000 after purchasing an additional 105,390 shares during the period. BNP Paribas Financial Markets lifted its stake in Ferrari by 89.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock valued at $103,621,000 after acquiring an additional 104,366 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Ferrari by 904.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 110,565 shares of the company’s stock valued at $51,968,000 after acquiring an additional 99,558 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group boosted their price objective on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Evercore ISI upped their price objective 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. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. Finally, StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Price Performance

RACE stock opened at $432.26 on Friday. The business has a 50 day moving average price of $433.70 and a 200 day moving average price of $448.33. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The stock has a market cap of $105.36 billion, a price-to-earnings ratio of 50.20, a PEG ratio of 3.70 and a beta of 0.95. Ferrari has a fifty-two week low of $330.15 and a fifty-two week high of $498.23.

Ferrari (NYSE:RACE) last posted its earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.98 EPS. Equities research analysts anticipate that Ferrari will post 8.59 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.