Ferrari (NYSE:RACE) Shares Acquired by Principal Street Partners LLC

Principal Street Partners LLC increased its position in Ferrari (NYSE:RACE) by 98.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,938 shares of the company’s stock after purchasing an additional 960 shares during the period. Principal Street Partners LLC’s holdings in Ferrari were worth $911,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in Ferrari by 3,806.5% during the second quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock worth $528,000 after purchasing an additional 1,180 shares during the last quarter. Raymond James & Associates lifted its position in shares of Ferrari by 1.3% in the 2nd quarter. Raymond James & Associates now owns 50,247 shares of the company’s stock worth $20,519,000 after buying an additional 655 shares during the last quarter. Gateway Investment Advisers LLC boosted its holdings in shares of Ferrari by 46.7% in the 2nd quarter. Gateway Investment Advisers LLC now owns 6,864 shares of the company’s stock valued at $2,803,000 after buying an additional 2,185 shares during the period. Rheos Capital Works Inc. grew its position in shares of Ferrari by 30.3% during the 3rd quarter. Rheos Capital Works Inc. now owns 111,700 shares of the company’s stock valued at $52,511,000 after buying an additional 26,000 shares during the last quarter. Finally, LRI Investments LLC raised its stake in Ferrari by 379.0% during the second quarter. LRI Investments LLC now owns 958 shares of the company’s stock worth $391,000 after acquiring an additional 758 shares during the period.

Ferrari Trading Down 0.6 %

Shares of NYSE RACE opened at $432.82 on Tuesday. The stock has a market cap of $79.96 billion, a price-to-earnings ratio of 50.55, a PEG ratio of 4.07 and a beta of 0.99. The business has a 50 day simple moving average of $461.73 and a 200 day simple moving average of $443.05. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a 52 week low of $330.15 and a 52 week high of $498.23.

Ferrari (NYSE:RACE) last announced its quarterly 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). The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.98 EPS. On average, research analysts predict that Ferrari will post 8.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on RACE. Morgan Stanley upped their target price on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group boosted their price target on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. Finally, Evercore ISI lifted 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Company Profile

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.