16,703 Ferrari N.V. $RACE Shares Purchased by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. boosted its stake in Ferrari N.V. (NYSE:RACE) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 456,513 shares of the company’s stock after acquiring an additional 16,703 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in Ferrari were worth $180,374,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Amundi grew its holdings in shares of Ferrari by 3.4% during the second quarter. Amundi now owns 3,060,265 shares of the company’s stock worth $1,139,306,000 after purchasing an additional 101,906 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Ferrari in the 2nd quarter valued at about $952,874,000. Deutsche Bank AG purchased a new stake in shares of Ferrari in the 2nd quarter valued at about $413,209,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Ferrari in the 2nd quarter valued at about $388,816,000. Finally, Ninety One UK Ltd boosted its position in shares of Ferrari by 12.3% in the 3rd quarter. Ninety One UK Ltd now owns 941,574 shares of the company’s stock valued at $370,470,000 after purchasing an additional 103,264 shares during the period.

Ferrari Price Performance

Shares of NYSE:RACE opened at $405.75 on Friday. The company has a 50-day simple moving average of $402.77 and a 200-day simple moving average of $372.59. Ferrari N.V. has a one year low of $312.51 and a one year high of $437.15. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.81 and a current ratio of 4.94. The stock has a market capitalization of $94.92 billion, a price-to-earnings ratio of 37.52, a PEG ratio of 3.71 and a beta of 0.89.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.10. Ferrari had a return on equity of 43.71% and a net margin of 22.55%. The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the company posted $2.14 earnings per share. The business’s revenue was up 7.4% on a year-over-year basis. On average, analysts predict that Ferrari N.V. will post 11.17 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on RACE. JPMorgan Chase & Co. restated a “buy” rating on shares of Ferrari in a research note on Tuesday, September 29th. Barclays reiterated a “buy” rating on shares of Ferrari in a research note on Monday, August 10th. Evercore reissued an “outperform” rating and issued a $485.00 price objective on shares of Ferrari in a report on Friday, July 31st. UBS Group lowered their target price on shares of Ferrari from $490.00 to $450.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Ferrari in a research report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $456.71.

Ferrari Profile

Ferrari N.V. designs, manufactures and sells luxury sports cars under the Ferrari brand. Based in Maranello, Italy, the company offers a range of road cars, including series-production models, special-series vehicles and limited-edition cars, with customization options for clients. Ferrari also operates a motorsports business centered on its racing heritage. Scuderia Ferrari competes in Formula One and other racing series, while the company organizes customer racing programs and events. In addition to cars and racing, Ferrari develops and licenses branded merchandise and lifestyle products.