Ossiam Buys 6,465 Shares of Ferrari (NYSE:RACE)

Ossiam boosted its stake in shares of Ferrari (NYSE:RACE) by 60.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 17,184 shares of the company’s stock after buying an additional 6,465 shares during the period. Ossiam’s holdings in Ferrari were worth $7,498,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. IAG Wealth Partners LLC purchased a new position in Ferrari in the 1st quarter worth about $33,000. Register Financial Advisors LLC purchased a new position in Ferrari in the 1st quarter worth about $33,000. Jamison Private Wealth Management Inc. purchased a new position in Ferrari in the 4th quarter worth about $27,000. Pittenger & Anderson Inc. increased its stake in Ferrari by 168.6% in the 1st quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock worth $41,000 after buying an additional 59 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC increased its stake in Ferrari by 320.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock worth $35,000 after buying an additional 80 shares during the period.

Analyst Upgrades and Downgrades

Several research firms recently commented on RACE. Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Thursday, April 4th. Evercore ISI increased their price objective on shares of Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Jefferies Financial Group initiated coverage on shares of Ferrari in a report on Friday, May 10th. They set a “hold” rating and a $403.00 price objective on the stock. Sanford C. Bernstein upped their target price on Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Finally, Bank of America lifted 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Ferrari currently has a consensus rating of “Hold” and a consensus target price of $461.67.

Ferrari Stock Performance

NYSE RACE traded down $7.39 on Thursday, hitting $406.28. The stock had a trading volume of 265,099 shares, compared to its average volume of 270,638. The business’s fifty day moving average price is $417.90 and its 200 day moving average price is $406.39. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.18 and a quick ratio of 3.25. Ferrari has a 52-week low of $285.02 and a 52-week high of $442.80.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, May 7th. The company reported $2.12 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $1.73 billion. Sell-side analysts anticipate that Ferrari will post 8.24 EPS for the current fiscal year.

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.