Ferrari (NYSE:RACE) Stock Holdings Increased by Cerity Partners LLC

Cerity Partners LLC grew its position in shares of Ferrari (NYSE:RACE) by 14.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,915 shares of the company’s stock after buying an additional 3,308 shares during the period. Cerity Partners LLC’s holdings in Ferrari were worth $12,653,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Jennison Associates LLC lifted its stake in Ferrari by 910.1% during the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after purchasing an additional 2,636,869 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Ferrari by 47,023.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock valued at $5,551,600,000 after buying an additional 1,178,410 shares during the period. Marshall Wace LLP grew its position in shares of Ferrari by 108.4% during the 2nd quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock valued at $361,961,000 after buying an additional 461,409 shares during the last quarter. Dnca Finance acquired a new stake in Ferrari during the second quarter worth about $41,165,000. Finally, Assenagon Asset Management S.A. lifted its holdings in Ferrari by 904.5% in the third quarter. Assenagon Asset Management S.A. now owns 110,565 shares of the company’s stock worth $51,968,000 after acquiring an additional 99,558 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. 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. Evercore ISI increased their target price on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $385.00 to $525.00 in a report on Friday, October 11th. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. Finally, UBS Group boosted their target price on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Stock Down 0.5 %

Ferrari stock opened at $435.24 on Tuesday. The company’s 50-day moving average price is $461.73 and its two-hundred day moving average price is $443.05. The stock has a market cap of $80.41 billion, a price-to-earnings ratio of 50.55, a PEG ratio of 4.07 and a beta of 0.99. Ferrari has a 52 week low of $330.15 and a 52 week high of $498.23. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE) last announced its 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 firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. Ferrari’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.98 EPS. On average, analysts expect that Ferrari will post 8.66 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.