Ferrari (NYSE:RACE) is Henry James International Management Inc.’s 2nd Largest Position

Henry James International Management Inc. grew its holdings in shares of Ferrari (NYSE:RACE) by 5.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 34,714 shares of the company’s stock after buying an additional 1,864 shares during the period. Ferrari accounts for 4.6% of Henry James International Management Inc.’s portfolio, making the stock its 2nd largest position. Henry James International Management Inc.’s holdings in Ferrari were worth $15,000,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Logan Capital Management Inc. grew its stake in Ferrari by 1.9% in the 4th quarter. Logan Capital Management Inc. now owns 4,668 shares of the company’s stock worth $1,580,000 after acquiring an additional 87 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake 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 in the last quarter. Vanguard Group Inc. increased its holdings in Ferrari by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,441,408 shares of the company’s stock worth $1,312,614,000 after purchasing an additional 61,132 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Ferrari by 12.0% in the 3rd 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 period. Finally, Jennison Associates LLC grew its position in shares of Ferrari by 10.5% during the 1st quarter. Jennison Associates LLC now owns 266,608 shares of the company’s stock worth $116,225,000 after buying an additional 25,228 shares in the last quarter.

Ferrari Price Performance

Shares of Ferrari stock traded up $0.62 during midday trading on Tuesday, hitting $429.18. The company had a trading volume of 157,899 shares, compared to its average volume of 274,581. The company has a fifty day simple moving average of $416.74 and a 200 day simple moving average of $403.31. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.25 and a current ratio of 4.18. Ferrari has a 12-month low of $285.02 and a 12-month high of $442.80.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.08. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. Ferrari had a net margin of 21.42% and a return on equity of 43.94%. As a group, analysts predict that Ferrari will post 8.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RACE shares. Evercore ISI increased their target price on shares of Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Bank of America increased their target price on Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Sanford C. Bernstein upped their price objective on Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Jefferies Financial Group assumed coverage on Ferrari in a research note on Friday, May 10th. They issued a “hold” rating and a $403.00 target price on the stock. Finally, StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Ferrari presently has an average rating of “Hold” and a consensus target price of $461.67.

Ferrari Company 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.