Barclays PLC Grows Position in Ferrari (NYSE:RACE)

Barclays PLC raised its stake in shares of Ferrari (NYSE:RACE) by 6.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 286,564 shares of the company’s stock after acquiring an additional 16,428 shares during the period. Barclays PLC’s holdings in Ferrari were worth $134,719,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC grew its stake in Ferrari by 910.1% in the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after purchasing an additional 2,636,869 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of 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 worth $5,551,600,000 after buying an additional 1,178,410 shares during the last quarter. Marshall Wace LLP grew its position in Ferrari by 108.4% during the second 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 during the period. Quadrature Capital Ltd increased its holdings in Ferrari by 83.7% during the third quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock worth $108,417,000 after buying an additional 105,390 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Ferrari by 89.9% in the third quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock worth $103,621,000 after acquiring an additional 104,366 shares during the period.

Ferrari Trading Up 0.0 %

RACE stock opened at $448.56 on Wednesday. Ferrari has a twelve month low of $330.15 and a twelve month 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 stock has a 50-day simple moving average of $455.63 and a two-hundred day simple moving average of $444.90.

Ferrari (NYSE:RACE) last posted its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the company posted $1.98 EPS. The business’s revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts predict that Ferrari will post 8.58 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.