Teachers Retirement System of The State of Kentucky Invests $461,000 in Ferrari N.V. $RACE

Teachers Retirement System of The State of Kentucky acquired a new position in shares of Ferrari N.V. (NYSE:RACE) in the 1st quarter, Holdings Channel reports. The fund acquired 1,362 shares of the company’s stock, valued at approximately $461,000.

Several other hedge funds have also recently added to or reduced their stakes in RACE. Fideuram Asset Management Ireland dac acquired a new stake in Ferrari in the 4th quarter valued at approximately $29,000. Entrust Financial LLC acquired a new position in shares of Ferrari during the fourth quarter worth approximately $33,000. Bellevue Asset Management LLC acquired a new position in shares of Ferrari during the first quarter worth approximately $34,000. Bamco Inc. NY lifted its holdings in shares of Ferrari by 790.9% during the fourth quarter. Bamco Inc. NY now owns 98 shares of the company’s stock worth $36,000 after buying an additional 87 shares during the last quarter. Finally, CoreCap Advisors LLC grew its stake in shares of Ferrari by 70.0% in the fourth quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock worth $38,000 after acquiring an additional 42 shares during the last quarter.

Analysts Set New Price Targets

Several research firms recently commented on RACE. Wolfe Research initiated coverage on shares of Ferrari in a research note on Tuesday, July 7th. They set an “outperform” rating for the company. UBS Group raised their price target on shares of Ferrari from $483.00 to $497.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Sanford C. Bernstein restated an “outperform” rating on shares of Ferrari in a report on Tuesday, June 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a report on Wednesday, July 8th. Finally, Morgan Stanley raised shares of Ferrari from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $388.00 to $438.00 in a research report on Monday, June 15th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Ferrari presently has a consensus rating of “Moderate Buy” and a consensus price target of $471.97.

Ferrari Stock Performance

RACE opened at $382.59 on Friday. The stock has a market cap of $89.51 billion, a PE ratio of 36.71, a P/E/G ratio of 3.22 and a beta of 0.92. The company has a current ratio of 5.20, a quick ratio of 4.08 and a debt-to-equity ratio of 0.72. Ferrari N.V. has a 1 year low of $312.51 and a 1 year high of $519.10. The stock’s 50 day simple moving average is $355.46 and its 200-day simple moving average is $352.45.

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.