Ferrari (NYSE:RACE) Shares Acquired by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. grew its holdings in Ferrari (NYSE:RACE) by 8.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,782 shares of the company’s stock after buying an additional 1,711 shares during the quarter. Ferrari comprises 1.8% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its 13th biggest holding. Triasima Portfolio Management inc.’s holdings in Ferrari were worth $9,254,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Ferrari in the 3rd quarter valued at approximately $29,000. Hanson & Doremus Investment Management acquired a new position in Ferrari during the fourth quarter worth $26,000. Planning Capital Management Corp acquired a new position in Ferrari during the third quarter worth $30,000. Ashton Thomas Securities LLC acquired a new position in Ferrari during the third quarter worth $33,000. Finally, FSC Wealth Advisors LLC acquired a new position in Ferrari during the third quarter worth $47,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RACE shares. Evercore ISI lifted their price objective on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a report on Thursday. They set a “hold” rating for the company. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Thursday. UBS Group lifted their price objective on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Ferrari has an average rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Stock Performance

Ferrari stock opened at $461.67 on Friday. The company has a market capitalization of $112.53 billion, a price-to-earnings ratio of 53.62, a PEG ratio of 3.72 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a fifty-two week low of $375.31 and a fifty-two week high of $498.23. The stock has a fifty day moving average of $435.35 and a two-hundred day moving average of $449.25.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. Ferrari’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.98 EPS. On average, analysts anticipate that Ferrari will post 8.59 EPS for the current fiscal year.

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.