Canada Pension Plan Investment Board Acquires 42,290 Shares of Ferrari (NYSE:RACE)

Canada Pension Plan Investment Board boosted its holdings in shares of Ferrari (NYSE:RACE) by 213.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,081 shares of the company’s stock after buying an additional 42,290 shares during the period. Canada Pension Plan Investment Board’s holdings in Ferrari were worth $27,082,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in Ferrari by 56.3% during the fourth quarter. SG Americas Securities LLC now owns 1,346 shares of the company’s stock worth $456,000 after purchasing an additional 485 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Ferrari by 17.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 6,594 shares of the company’s stock worth $2,232,000 after buying an additional 985 shares during the period. Procyon Advisors LLC purchased a new position in shares of Ferrari in the fourth quarter worth about $225,000. Good Life Advisors LLC increased its holdings in shares of Ferrari by 10.3% in the fourth quarter. Good Life Advisors LLC now owns 908 shares of the company’s stock worth $307,000 after buying an additional 85 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Ferrari by 37.0% in the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after buying an additional 30 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Sanford C. Bernstein boosted their price target on Ferrari from $448.00 to $512.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Bank of America boosted their price target on Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Morgan Stanley restated an “overweight” rating and set a $400.00 price target on shares of Ferrari in a report on Monday, April 22nd. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, Evercore ISI boosted their price target on Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $461.67.

Ferrari Stock Up 1.9 %

Ferrari stock traded up $7.88 during trading hours on Friday, hitting $413.80. 175,953 shares of the stock traded hands, compared to its average volume of 179,789. The company has a current ratio of 4.18, a quick ratio of 3.25 and a debt-to-equity ratio of 0.80. The firm’s 50-day moving average price is $417.72 and its two-hundred day moving average price is $406.88. Ferrari has a one year low of $285.02 and a one year high of $442.80. The company has a market cap of $76.45 billion, a PE ratio of 52.85, a PEG ratio of 4.78 and a beta of 0.99.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.08. Ferrari had a return on equity of 43.94% and a net margin of 21.42%. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.73 billion. On average, research analysts forecast that Ferrari will post 8.24 EPS for the current year.

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.