Hantz Financial Services Inc. Grows Stock Position in Ferrari N.V. $RACE

Hantz Financial Services Inc. increased its stake in Ferrari N.V. (NYSE:RACE) by 2,487.2% in the third quarter, HoldingsChannel reports. The fund owned 3,027 shares of the company’s stock after purchasing an additional 2,910 shares during the period. Hantz Financial Services Inc.’s holdings in Ferrari were worth $1,469,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of RACE. Groupama Asset Managment lifted its position in Ferrari by 24,598.5% in the second quarter. Groupama Asset Managment now owns 16,073,800 shares of the company’s stock valued at $7,888,057,000 after purchasing an additional 16,008,720 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Ferrari by 63.7% in the third quarter. Bank of New York Mellon Corp now owns 2,670,762 shares of the company’s stock worth $1,295,907,000 after buying an additional 1,039,234 shares during the period. Bank of Italy increased its stake in shares of Ferrari by 2.3% in the third quarter. Bank of Italy now owns 2,462,771 shares of the company’s stock worth $1,190,158,000 after buying an additional 55,500 shares during the period. Alliancebernstein L.P. raised its holdings in Ferrari by 5.6% during the 2nd quarter. Alliancebernstein L.P. now owns 1,866,558 shares of the company’s stock valued at $915,995,000 after buying an additional 99,221 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Ferrari by 9.1% during the 2nd quarter. Jennison Associates LLC now owns 1,841,200 shares of the company’s stock valued at $903,019,000 after buying an additional 153,297 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group upgraded shares of Ferrari to a “strong-buy” rating in a research report on Monday, November 24th. Oddo Bhf downgraded Ferrari to a “neutral” rating in a report on Wednesday, December 10th. Barclays set a $420.00 price objective on Ferrari and gave the stock an “overweight” rating in a report on Tuesday, December 9th. UBS Group reduced their target price on Ferrari from $563.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday, January 9th. Finally, BNP Paribas Exane upgraded Ferrari to a “strong-buy” rating in a report on Thursday, December 11th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $480.67.

Ferrari Stock Performance

Ferrari stock opened at $334.32 on Friday. Ferrari N.V. has a fifty-two week low of $328.00 and a fifty-two week high of $519.10. The stock’s 50 day simple moving average is $362.37 and its two-hundred day simple moving average is $416.88. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.78 and a current ratio of 4.90. The stock has a market cap of $81.03 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 3.64 and a beta of 0.99.

Ferrari (NYSE:RACE) last released its earnings results on Tuesday, November 4th. The company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.15. Ferrari had a return on equity of 44.20% and a net margin of 22.65%.The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.94 billion. As a group, analysts expect that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Ferrari Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.