Rheos Capital Works Inc. Purchases 30,000 Shares of Ferrari (NYSE:RACE)

Rheos Capital Works Inc. increased its position in Ferrari (NYSE:RACE) by 26.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 141,700 shares of the company’s stock after purchasing an additional 30,000 shares during the quarter. Ferrari makes up 3.3% of Rheos Capital Works Inc.’s holdings, making the stock its 5th largest position. Rheos Capital Works Inc.’s holdings in Ferrari were worth $60,200,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Jennison Associates LLC raised its position in shares of Ferrari by 910.1% in the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after purchasing an additional 2,636,869 shares during the period. International Assets Investment Management LLC boosted its stake in Ferrari by 47,023.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock valued at $5,551,600,000 after purchasing an additional 1,178,410 shares during the period. Quadrature Capital Ltd grew its stake in shares of Ferrari by 83.7% in the third quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock valued at $108,417,000 after acquiring an additional 105,390 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Ferrari by 89.9% during the third quarter. BNP Paribas Financial Markets now owns 220,418 shares of the company’s stock worth $103,621,000 after purchasing an additional 104,366 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Ferrari by 904.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 110,565 shares of the company’s stock worth $51,968,000 after acquiring an additional 99,558 shares during the period.

Analyst Ratings Changes

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

Ferrari Price Performance

Shares of RACE opened at $429.35 on Monday. The business has a 50-day moving average of $433.65 and a 200-day moving average of $448.70. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The company has a market capitalization of $104.65 billion, a price-to-earnings ratio of 49.87, a price-to-earnings-growth ratio of 3.72 and a beta of 0.95. Ferrari has a 1 year low of $345.92 and a 1 year high of $498.23.

Ferrari (NYSE:RACE) last released its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $1.80 billion. During the same quarter in the previous year, the firm earned $1.98 EPS. Ferrari’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts anticipate that Ferrari will post 8.59 earnings per share for the current 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.