Ferrari (NYSE:RACE) Stock Holdings Lowered by LRI Investments LLC

LRI Investments LLC lowered its position in shares of Ferrari (NYSE:RACE) by 4.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 912 shares of the company’s stock after selling 46 shares during the period. LRI Investments LLC’s holdings in Ferrari were worth $402,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of RACE. Jennison Associates LLC grew its position in shares of Ferrari by 910.1% during the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after acquiring an additional 2,636,869 shares during the last quarter. International Assets Investment Management LLC grew its position in Ferrari by 47,023.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock valued at $5,551,600,000 after buying an additional 1,178,410 shares in the last quarter. Marshall Wace LLP grew its position in Ferrari by 108.4% in the 2nd quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock valued at $361,961,000 after buying an additional 461,409 shares in the last quarter. Quadrature Capital Ltd grew its position in Ferrari by 83.7% in the 3rd quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock valued at $108,417,000 after buying an additional 105,390 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in Ferrari by 89.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock valued at $103,621,000 after buying an additional 104,366 shares in the last quarter.

Ferrari Stock Down 2.2 %

RACE stock opened at $448.51 on Tuesday. The firm has a 50-day moving average of $455.63 and a two-hundred day moving average of $444.90. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a one year low of $330.15 and a one year high of $498.23.

Ferrari (NYSE:RACE) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. Ferrari’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $1.98 earnings per share. On average, research analysts expect that Ferrari will post 8.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RACE. Morgan Stanley increased their target price 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. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and increased their target price for the company from $385.00 to $525.00 in a research report on Friday, October 11th. Evercore ISI increased their target price 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. UBS Group upped their price target on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.