Ferrari (NYSE:RACE) Shares Bought by Rheos Capital Works Inc.

Rheos Capital Works Inc. increased its position in Ferrari (NYSE:RACE) by 30.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,700 shares of the company’s stock after buying an additional 26,000 shares during the period. Ferrari accounts for approximately 2.7% of Rheos Capital Works Inc.’s investment portfolio, making the stock its 4th biggest holding. Rheos Capital Works Inc. owned about 0.06% of Ferrari worth $52,511,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in RACE. Rothschild Investment LLC acquired a new position in Ferrari during the 2nd quarter valued at about $29,000. Register Financial Advisors LLC acquired a new position in Ferrari during the 1st quarter valued at about $33,000. Valley Wealth Managers Inc. acquired a new position in Ferrari during the 2nd quarter valued at about $33,000. Denver PWM LLC acquired a new position in Ferrari during the 2nd quarter valued at about $35,000. Finally, Pittenger & Anderson Inc. boosted its stake in Ferrari by 168.6% during the 1st quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock valued at $41,000 after purchasing an additional 59 shares during the last quarter.

Ferrari Trading Up 0.3 %

NYSE:RACE opened at $471.98 on Thursday. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $87.20 billion, a PE ratio of 60.28, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. The firm’s 50 day moving average is $466.98 and its 200 day moving average is $434.71. Ferrari has a 12 month low of $296.34 and a 12 month high of $498.23.

Ferrari (NYSE:RACE) last issued its earnings results on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.08. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the firm posted $1.99 EPS. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. Sell-side analysts expect that Ferrari will post 8.81 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RACE. UBS Group boosted their target price on Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. Morgan Stanley boosted their target price on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Finally, Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $487.86.

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.