Stifel Financial Corp decreased its position in shares of Ferrari NV (NYSE:RACE) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 63,686 shares of the company’s stock after selling 1,556 shares during the quarter. Stifel Financial Corp’s holdings in Ferrari were worth $9,808,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of RACE. BlackRock Inc. lifted its holdings in Ferrari by 74.5% during the 2nd quarter. BlackRock Inc. now owns 991,102 shares of the company’s stock worth $159,984,000 after buying an additional 423,139 shares in the last quarter. Marshall Wace LLP lifted its holdings in Ferrari by 786.1% during the 2nd quarter. Marshall Wace LLP now owns 377,188 shares of the company’s stock worth $61,309,000 after buying an additional 334,622 shares in the last quarter. Invesco Ltd. lifted its holdings in Ferrari by 1,316.2% during the 2nd quarter. Invesco Ltd. now owns 320,497 shares of the company’s stock worth $51,735,000 after buying an additional 297,866 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Ferrari during the 3rd quarter worth $32,218,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Ferrari by 1.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,668,282 shares of the company’s stock worth $1,399,234,000 after buying an additional 141,547 shares in the last quarter. 36.04% of the stock is currently owned by hedge funds and other institutional investors.
RACE stock opened at $165.11 on Tuesday. The business’s fifty day moving average is $162.29 and its 200-day moving average is $157.62. The company has a quick ratio of 3.61, a current ratio of 4.23 and a debt-to-equity ratio of 1.51. The company has a market cap of $31.03 billion, a P/E ratio of 41.07, a price-to-earnings-growth ratio of 2.64 and a beta of 1.33. Ferrari NV has a twelve month low of $93.85 and a twelve month high of $172.89.
Ferrari (NYSE:RACE) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.03). The company had revenue of $915.00 million during the quarter, compared to analyst estimates of $889.08 million. Ferrari had a net margin of 19.67% and a return on equity of 51.17%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the company earned $0.77 EPS. Research analysts anticipate that Ferrari NV will post 4.14 earnings per share for the current fiscal year.
RACE has been the topic of several research reports. Societe Generale raised Ferrari from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Morgan Stanley upped their price objective on Ferrari from $175.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Zacks Investment Research raised Ferrari from a “sell” rating to a “hold” rating in a report on Wednesday, October 23rd. Goldman Sachs Group raised Ferrari from a “neutral” rating to a “buy” rating and set a $182.00 price objective on the stock in a report on Tuesday, August 13th. Finally, ValuEngine downgraded Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $173.92.
Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.
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