Dimensional Fund Advisors LP grew its stake in shares of Ferrari N.V. (NYSE:RACE) by 137.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,173 shares of the company’s stock after buying an additional 4,737 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Ferrari N.V. were worth $608,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the business. Comerica Bank raised its position in shares of Ferrari N.V. by 1.3% during the 1st quarter. Comerica Bank now owns 10,857 shares of the company’s stock worth $821,000 after buying an additional 144 shares in the last quarter. World Asset Management Inc raised its holdings in shares of Ferrari N.V. by 1.7% in the 1st quarter. World Asset Management Inc now owns 11,775 shares of the company’s stock worth $876,000 after purchasing an additional 197 shares in the last quarter. Strategic Global Advisors LLC raised its holdings in shares of Ferrari N.V. by 6.6% in the 1st quarter. Strategic Global Advisors LLC now owns 5,996 shares of the company’s stock worth $446,000 after purchasing an additional 372 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Ferrari N.V. by 48.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,798 shares of the company’s stock worth $135,000 after purchasing an additional 586 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new stake in shares of Ferrari N.V. in the 1st quarter worth approximately $127,000. Institutional investors own 29.78% of the company’s stock.
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A number of research firms have recently issued reports on RACE. Zacks Investment Research lowered shares of Ferrari N.V. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 11th. Berenberg Bank restated a “buy” rating on shares of Ferrari N.V. in a report on Monday, August 14th. Morgan Stanley lowered shares of Ferrari N.V. from an “overweight” rating to an “underweight” rating and set a $100.00 price target on the stock. in a report on Thursday, September 7th. UBS AG restated a “buy” rating and set a $125.00 price target (up previously from $100.00) on shares of Ferrari N.V. in a report on Thursday, August 3rd. Finally, Evercore ISI boosted their price target on shares of Ferrari N.V. from $46.00 to $105.00 and gave the company an “in-line” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Ferrari N.V. has a consensus rating of “Hold” and a consensus target price of $101.75.
Ferrari N.V. (NYSE:RACE) traded up 0.50% during mid-day trading on Friday, reaching $109.78. 252,329 shares of the company’s stock traded hands. The stock has a market cap of $20.74 billion, a P/E ratio of 36.75 and a beta of 1.78. The firm has a 50-day moving average price of $111.08 and a 200-day moving average price of $88.27. Ferrari N.V. has a 1-year low of $46.39 and a 1-year high of $118.10.
Ferrari N.V. (NYSE:RACE) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.13. The company had revenue of $1.01 billion for the quarter. Ferrari N.V. had a return on equity of 128.49% and a net margin of 14.43%. Equities research analysts anticipate that Ferrari N.V. will post $3.23 EPS for the current fiscal year.
Ferrari N.V. Company Profile
Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
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