TD Asset Management Inc Acquires 75,282 Shares of Ferrari (NYSE:RACE)

TD Asset Management Inc grew its holdings in Ferrari (NYSE:RACE) by 26.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 357,205 shares of the company’s stock after purchasing an additional 75,282 shares during the period. TD Asset Management Inc’s holdings in Ferrari were worth $145,861,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. increased its stake in shares of Ferrari by 3,806.5% in the 2nd quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock valued at $528,000 after purchasing an additional 1,180 shares during the last quarter. Logan Capital Management Inc. increased its stake in shares of Ferrari by 1.9% in the 4th quarter. Logan Capital Management Inc. now owns 4,668 shares of the company’s stock valued at $1,580,000 after purchasing an additional 87 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Ferrari by 1.3% during the 2nd quarter. Raymond James & Associates now owns 50,247 shares of the company’s stock valued at $20,519,000 after acquiring an additional 655 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Ferrari by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 4,488,346 shares of the company’s stock valued at $1,518,991,000 after acquiring an additional 46,938 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Ferrari by 10.5% during the 1st quarter. Jennison Associates LLC now owns 266,608 shares of the company’s stock valued at $116,225,000 after acquiring an additional 25,228 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RACE. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Jefferies Financial Group began coverage on Ferrari in a report on Friday, May 10th. They set a “hold” rating and a $403.00 price objective on the stock. Morgan Stanley raised their price objective on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Finally, UBS Group raised their price objective on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Ferrari currently has an average rating of “Moderate Buy” and an average target price of $481.67.

Ferrari Stock Down 2.0 %

Shares of NYSE:RACE opened at $477.15 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.35 and a quick ratio of 3.32. The business’s 50-day moving average is $440.49 and its 200-day moving average is $425.71. Ferrari has a 1 year low of $285.02 and a 1 year high of $498.23.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.08. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.63 billion. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The firm’s revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.99 EPS. On average, research analysts anticipate that Ferrari will post 8.71 EPS for the current fiscal year.

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.