Zurcher Kantonalbank Zurich Cantonalbank Acquires 8,212 Shares of Ferrari (NYSE:RACE)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Ferrari (NYSE:RACE) by 12.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 72,636 shares of the company’s stock after acquiring an additional 8,212 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ferrari were worth $24,488,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Ferrari by 1.4% during the third quarter. Vanguard Group Inc. now owns 4,441,408 shares of the company’s stock worth $1,312,614,000 after buying an additional 61,132 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Ferrari by 12.0% during the third quarter. B. Riley Wealth Advisors Inc. now owns 2,140 shares of the company’s stock worth $632,000 after buying an additional 230 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Ferrari by 1.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 4,247 shares of the company’s stock worth $1,437,000 after purchasing an additional 40 shares during the period. Alphinity Investment Management Pty Ltd acquired a new stake in Ferrari in the third quarter worth $157,620,000. Finally, Syntal Capital Partners LLC acquired a new stake in Ferrari in the third quarter worth $511,000.

Analyst Ratings Changes

A number of research firms have commented on RACE. Citigroup cut shares of Ferrari from a “neutral” rating to a “sell” rating in a report on Monday, March 4th. UBS Group lifted their price objective on shares of Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a report on Friday, February 2nd. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Bank of America lifted their price objective on shares of Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Ferrari presently has a consensus rating of “Hold” and a consensus target price of $363.57.

Ferrari Stock Performance

RACE stock opened at $416.52 on Thursday. The company has a quick ratio of 2.98, a current ratio of 3.91 and a debt-to-equity ratio of 0.81. Ferrari has a 52 week low of $272.70 and a 52 week high of $442.80. The firm’s fifty day moving average is $416.10 and its 200 day moving average is $365.86.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.15. Ferrari had a net margin of 21.06% and a return on equity of 43.84%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.61 billion. On average, sell-side analysts forecast that Ferrari will post 8.31 EPS for the current fiscal year.

Ferrari Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be paid a $2.443 dividend. The ex-dividend date is Monday, April 22nd. This represents a dividend yield of 0.62%.

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.