Ferrari (NYSE:RACE) Shares Acquired by Biglari Sardar

Biglari Sardar boosted its stake in shares of Ferrari (NYSE:RACE) by 37.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,300 shares of the company’s stock after acquiring an additional 5,000 shares during the quarter. Ferrari accounts for 18.3% of Biglari Sardar’s portfolio, making the stock its largest position. Biglari Sardar’s holdings in Ferrari were worth $8,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Ferrari during the third quarter worth $29,000. Planning Capital Management Corp bought a new stake in Ferrari during the 3rd quarter worth about $30,000. Rothschild Investment LLC acquired a new stake in Ferrari in the 2nd quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Ferrari during the third quarter worth approximately $33,000. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of Ferrari in the second quarter valued at approximately $33,000.

Ferrari Stock Performance

NYSE:RACE opened at $434.16 on Monday. Ferrari has a 12-month low of $330.15 and a 12-month high of $498.23. The stock’s 50 day moving average price is $459.00 and its two-hundred day moving average price is $443.68. 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 (NYSE:RACE) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the company posted $1.98 EPS. The firm’s revenue was up 6.5% on a year-over-year basis. On average, equities research analysts predict that Ferrari will post 8.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RACE. UBS Group lifted their target price on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and raised their target price for the company from $385.00 to $525.00 in a research note on Friday, October 11th. Evercore ISI boosted their price target on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Morgan Stanley lifted their target price on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Finally, StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.