Ferrari (NYSE:RACE) Shares Purchased by Ameritas Advisory Services LLC

Ameritas Advisory Services LLC lifted its stake in Ferrari (NYSE:RACE) by 2.9% in the second quarter, HoldingsChannel reports. The firm owned 1,684 shares of the company’s stock after purchasing an additional 47 shares during the period. Ameritas Advisory Services LLC’s holdings in Ferrari were worth $688,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Ferrari by 1.4% during the first quarter. Vanguard Group Inc. now owns 4,549,934 shares of the company’s stock valued at $1,983,498,000 after buying an additional 61,588 shares during the period. Norges Bank acquired a new stake in shares of Ferrari during the fourth quarter worth approximately $572,523,000. Capital Research Global Investors grew its position in Ferrari by 3.9% during the first quarter. Capital Research Global Investors now owns 1,329,714 shares of the company’s stock valued at $579,585,000 after purchasing an additional 49,367 shares in the last quarter. Capital International Investors increased its stake in Ferrari by 314.3% in the 1st quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock valued at $454,792,000 after buying an additional 791,596 shares during the period. Finally, Capital World Investors boosted its stake in shares of Ferrari by 34.3% during the 1st quarter. Capital World Investors now owns 962,583 shares of the company’s stock valued at $419,547,000 after buying an additional 245,872 shares during the period.

Ferrari Stock Performance

NYSE:RACE traded up $1.91 during midday trading on Friday, reaching $492.50. The stock had a trading volume of 123,500 shares, compared to its average volume of 272,662. The stock has a market capitalization of $90.99 billion, a P/E ratio of 62.66, a PEG ratio of 4.85 and a beta of 0.99. Ferrari has a 1-year low of $285.02 and a 1-year high of $496.14. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.35 and a quick ratio of 3.32. The firm’s fifty day simple moving average is $431.83 and its 200-day simple moving average is $421.62.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.08. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the business posted $1.99 earnings per share. The firm’s revenue was up 16.1% compared to the same quarter last year. On average, equities research analysts forecast that Ferrari will post 8.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RACE. Morgan Stanley increased their price objective on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Jefferies Financial Group began coverage on Ferrari in a report on Friday, May 10th. They issued a “hold” rating and a $403.00 price objective on the stock. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. Finally, UBS Group increased their price target on shares of Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $481.67.

Ferrari 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.