Healthcare of Ontario Pension Plan Trust Fund Grows Stock Holdings in Ferrari (NYSE:RACE)

Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Ferrari (NYSE:RACE) by 101.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 155,900 shares of the company’s stock after buying an additional 78,400 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Ferrari were worth $73,290,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. acquired a new position in Ferrari during the third quarter worth about $29,000. Planning Capital Management Corp acquired a new position in Ferrari during the third quarter worth about $30,000. Rothschild Investment LLC acquired a new position in Ferrari during the second quarter worth about $29,000. Ashton Thomas Securities LLC acquired a new position in Ferrari during the third quarter worth about $33,000. Finally, Valley Wealth Managers Inc. acquired a new position in Ferrari during the second quarter worth about $33,000.

Ferrari Trading Down 0.9 %

Shares of RACE stock opened at $431.40 on Wednesday. Ferrari has a one year low of $330.15 and a one year high of $498.23. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The company has a 50 day moving average price of $461.10 and a 200 day moving average price of $443.24.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the company posted $1.98 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts forecast that Ferrari will post 8.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RACE. StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group boosted their price objective on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $385.00 to $525.00 in a research report on Friday, October 11th. Evercore ISI boosted their price objective on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Morgan Stanley boosted their price objective on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

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.