Ferrari (NYSE:RACE) Shares Acquired by Baltimore Washington Financial Advisors Inc.

Baltimore Washington Financial Advisors Inc. lifted its holdings in shares of Ferrari (NYSE:RACE) by 5.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,411 shares of the company’s stock after purchasing an additional 545 shares during the quarter. Baltimore Washington Financial Advisors Inc.’s holdings in Ferrari were worth $4,423,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Jennison Associates LLC lifted its holdings in shares of 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 period. Bank of Italy lifted its holdings in shares of Ferrari by 2.8% during the fourth quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock worth $1,002,392,000 after purchasing an additional 63,675 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Ferrari by 47,023.5% during the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock worth $5,551,600,000 after purchasing an additional 1,178,410 shares during the period. Swiss National Bank lifted its holdings in shares of Ferrari by 0.5% during the third quarter. Swiss National Bank now owns 377,857 shares of the company’s stock worth $177,157,000 after purchasing an additional 1,914 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Ferrari by 6.1% during the third quarter. Barclays PLC now owns 286,564 shares of the company’s stock worth $134,719,000 after purchasing an additional 16,428 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RACE shares. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $385.00 to $525.00 in a report on Friday, October 11th. Evercore ISI increased their price target on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. UBS Group increased their price target on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Trading Up 0.2 %

Shares of RACE stock opened at $429.37 on Tuesday. Ferrari has a fifty-two week low of $368.80 and a fifty-two week high of $498.23. The stock has a market cap of $104.66 billion, a P/E ratio of 49.87, a P/E/G ratio of 3.72 and a beta of 0.95. The business has a fifty day simple moving average of $433.65 and a 200-day simple moving average of $448.70. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE) last announced 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 firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the business earned $1.98 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, analysts forecast that Ferrari will post 8.59 earnings per share 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.