Quantbot Technologies LP Grows Position in Ferrari (NYSE:RACE)

Quantbot Technologies LP boosted its stake in Ferrari (NYSE:RACE) by 3,661.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,598 shares of the company’s stock after purchasing an additional 7,396 shares during the quarter. Quantbot Technologies LP’s holdings in Ferrari were worth $3,103,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Ferrari by 1.4% in the first quarter. Vanguard Group Inc. now owns 4,549,934 shares of the company’s stock valued at $1,983,498,000 after purchasing an additional 61,588 shares during the period. Norges Bank purchased a new stake in Ferrari during the fourth quarter worth approximately $572,523,000. Capital Research Global Investors grew its stake in Ferrari by 3.9% during the first quarter. Capital Research Global Investors now owns 1,329,714 shares of the company’s stock worth $579,585,000 after buying an additional 49,367 shares during the period. Capital International Investors grew its stake in Ferrari by 314.3% during the first quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock worth $454,792,000 after buying an additional 791,596 shares during the period. Finally, Capital World Investors grew its stake in Ferrari by 34.3% during the first quarter. Capital World Investors now owns 962,583 shares of the company’s stock worth $419,547,000 after buying an additional 245,872 shares during the period.

Analyst Ratings Changes

Several research firms have issued reports on RACE. Morgan Stanley boosted their price objective on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Finally, UBS Group boosted their price objective on shares of Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. One investment 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $481.67.

Ferrari Trading Down 1.2 %

NYSE RACE opened at $463.67 on Tuesday. The company’s fifty day simple moving average is $447.72 and its 200-day simple moving average is $428.79. Ferrari has a 52 week low of $285.02 and a 52 week high of $498.23. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01. The stock has a market cap of $85.66 billion, a P/E ratio of 59.22, a PEG ratio of 4.98 and a beta of 1.00.

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

Ferrari 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.