Wilmington Savings Fund Society FSB Purchases Shares of 888 Ferrari (NYSE:RACE)

Wilmington Savings Fund Society FSB purchased a new position in Ferrari (NYSE:RACE) in the third quarter, HoldingsChannel reports. The firm purchased 888 shares of the company’s stock, valued at approximately $417,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RACE. Jennison Associates LLC boosted its holdings in Ferrari by 910.1% in the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after buying an additional 2,636,869 shares during the period. International Assets Investment Management LLC lifted its position in shares of Ferrari by 47,023.5% in the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock valued at $5,551,600,000 after acquiring an additional 1,178,410 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Ferrari by 108.4% in the second quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock worth $361,961,000 after acquiring an additional 461,409 shares during the period. Quadrature Capital Ltd grew its position in shares of Ferrari by 83.7% during the third quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock worth $108,417,000 after purchasing an additional 105,390 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Ferrari by 89.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock valued at $103,621,000 after purchasing an additional 104,366 shares during the period.

Wall Street Analyst Weigh In

RACE has been the subject of several recent analyst reports. UBS Group upped their price target on Ferrari from $478.00 to $513.00 and gave the stock 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. StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Evercore ISI raised their price objective on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Morgan Stanley boosted their target price on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Ferrari has a consensus rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Trading Down 3.8 %

RACE opened at $436.96 on Tuesday. The stock has a 50-day moving average of $455.20 and a 200 day moving average of $446.18. 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 has a 12 month low of $330.15 and a 12 month high of $498.23. The firm has a market cap of $80.73 billion, a P/E ratio of 50.75, a P/E/G ratio of 4.26 and a beta of 0.95.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the firm posted $1.98 EPS. Ferrari’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, research analysts forecast that Ferrari will post 8.58 EPS for the current 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.