Bokf Na Has $627,000 Stock Holdings in Ferrari (NYSE:RACE)

Bokf Na cut its position in shares of Ferrari (NYSE:RACE) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,453 shares of the company’s stock after selling 28 shares during the quarter. Bokf Na’s holdings in Ferrari were worth $627,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. LRI Investments LLC bought a new position in shares of Ferrari in the first quarter valued at approximately $389,000. Canada Pension Plan Investment Board raised its stake in shares of Ferrari by 213.7% in the first quarter. Canada Pension Plan Investment Board now owns 62,081 shares of the company’s stock valued at $27,082,000 after acquiring an additional 42,290 shares during the last quarter. Capital World Investors raised its position in Ferrari by 34.3% in the 1st quarter. Capital World Investors now owns 962,583 shares of the company’s stock worth $419,547,000 after purchasing an additional 245,872 shares during the last quarter. Capital Research Global Investors raised its position in Ferrari by 3.9% in the 1st quarter. Capital Research Global Investors now owns 1,329,714 shares of the company’s stock worth $579,585,000 after purchasing an additional 49,367 shares during the last quarter. Finally, Capital International Sarl raised its position in Ferrari by 161.9% in the 1st quarter. Capital International Sarl now owns 17,930 shares of the company’s stock worth $7,819,000 after purchasing an additional 11,083 shares during the last quarter.

Analyst Upgrades and Downgrades

RACE has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on Ferrari in a research report on Friday, May 10th. They issued a “hold” rating and a $403.00 price target on the stock. Bank of America raised their price objective on Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. UBS Group raised their price objective on Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $400.00 price objective on shares of Ferrari in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $461.67.

Ferrari Price Performance

Shares of NYSE RACE traded down $4.95 during mid-day trading on Monday, hitting $408.85. The company had a trading volume of 31,615 shares, compared to its average volume of 268,320. The firm has a 50-day simple moving average of $417.72 and a two-hundred day simple moving average of $407.72. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.18 and a quick ratio of 3.25. Ferrari has a one year low of $285.02 and a one year high of $442.80.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.08. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Ferrari had a return on equity of 43.94% and a net margin of 21.42%. Sell-side analysts expect that Ferrari will post 8.24 EPS for the current year.

About Ferrari

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.