Ferrari N.V. $RACE Stock: Ninety One UK Ltd Increases Stake

Ninety One UK Ltd increased its position in shares of Ferrari N.V. (NYSE:RACE) by 12.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 941,574 shares of the company’s stock after purchasing an additional 103,264 shares during the period. Ninety One UK Ltd owned 0.40% of Ferrari worth $370,470,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RACE. Biglari Sardar purchased a new position in shares of Ferrari in the second quarter valued at about $20,997,156. TD Waterhouse Canada Inc. boosted its stake in shares of Ferrari by 139.4% in the second quarter. TD Waterhouse Canada Inc. now owns 42,858 shares of the company’s stock worth $16,058,000 after acquiring an additional 24,956 shares during the period. USS Investment Management Ltd grew its position in shares of Ferrari by 902.0% during the first quarter. USS Investment Management Ltd now owns 229,353 shares of the company’s stock worth $76,588,000 after purchasing an additional 206,463 shares in the last quarter. Biglari Capital CORP. grew its position in shares of Ferrari by 29.4% during the first quarter. Biglari Capital CORP. now owns 291,981 shares of the company’s stock worth $98,821,000 after purchasing an additional 66,400 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of Ferrari by 26.8% during the first quarter. Swiss National Bank now owns 436,456 shares of the company’s stock worth $145,435,000 after purchasing an additional 92,373 shares in the last quarter.

Ferrari Price Performance

Shares of RACE stock traded up $10.68 during trading hours on Thursday, hitting $398.02. The stock had a trading volume of 406,624 shares, compared to its average volume of 600,493. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.85 and a quick ratio of 3.70. The stock has a market capitalization of $93.12 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 3.37 and a beta of 0.93. Ferrari N.V. has a one year low of $312.51 and a one year high of $437.15. The stock’s 50-day moving average price is $407.64 and its two-hundred day moving average price is $374.87.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Friday, July 31st. The company reported $2.99 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.16. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.14 billion. Ferrari had a return on equity of 42.83% and a net margin of 22.29%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.38 earnings per share. Equities analysts forecast that Ferrari N.V. will post 11.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Ferrari in a report on Tuesday, September 29th. Needham & Company LLC upgraded shares of Ferrari to a “neutral” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Ferrari in a research report on Tuesday, September 29th. Finally, Evercore reissued an “outperform” rating and issued a $485.00 target price on shares of Ferrari in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $464.74.

Ferrari Profile

Ferrari N.V. is an Italian luxury automotive company that designs, develops, manufactures and sells high-performance sports cars. Its product portfolio includes mid- and front-engine sports cars, grand touring models, special-series vehicles and limited-edition automobiles. Ferrari also develops hybrid and other electrified models while maintaining a focus on performance, craftsmanship, design and exclusivity.

The company generates additional activities through its racing operations, vehicle personalization programs, financial services, merchandise, licensing and branded experiences.