Comgest Global Investors S.A.S. Decreases Position in Ferrari (NYSE:RACE)

Comgest Global Investors S.A.S. decreased its stake in Ferrari (NYSE:RACE) by 9.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,251 shares of the company’s stock after selling 455 shares during the quarter. Comgest Global Investors S.A.S.’s holdings in Ferrari were worth $1,998,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Ferrari by 1.4% in the first quarter. Vanguard Group Inc. now owns 4,549,934 shares of the company’s stock worth $1,983,498,000 after acquiring an additional 61,588 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Ferrari by 3.9% in the first quarter. Capital Research Global Investors now owns 1,329,714 shares of the company’s stock worth $579,585,000 after acquiring an additional 49,367 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Ferrari by 2.4% in the second quarter. Legal & General Group Plc now owns 1,256,482 shares of the company’s stock worth $512,660,000 after acquiring an additional 30,014 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Ferrari by 47,023.5% in the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock worth $5,551,600,000 after acquiring an additional 1,178,410 shares in the last quarter. Finally, Capital International Investors lifted its stake in shares of Ferrari by 314.3% in the first quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock worth $454,792,000 after acquiring an additional 791,596 shares in the last quarter.

Ferrari Stock Performance

Shares of NYSE RACE traded down $9.40 during mid-day trading on Friday, hitting $430.99. The company had a trading volume of 280,182 shares, compared to its average volume of 282,973. Ferrari has a 12 month low of $330.15 and a 12 month high of $498.23. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The firm’s 50 day simple moving average is $466.22 and its two-hundred day simple moving average is $442.00.

Ferrari (NYSE:RACE) last posted its earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the business earned $1.98 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. As a group, research analysts anticipate that Ferrari will post 8.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

RACE has been the topic of several recent analyst reports. UBS Group boosted their price target on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Morgan Stanley increased their target price on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Finally, Evercore ISI increased their target price on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Ferrari presently has a consensus rating of “Moderate Buy” and an average price target 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.