OMERS ADMINISTRATION Corp Buys New Shares in Ferrari N.V. $RACE

OMERS ADMINISTRATION Corp purchased a new position in shares of Ferrari N.V. (NYSE:RACE) in the 2nd quarter, Holdings Channel reports. The firm purchased 17,531 shares of the company’s stock, valued at approximately $6,501,000.

A number of other large investors also recently bought and sold shares of the stock. AQR Capital Management LLC boosted its holdings in shares of Ferrari by 78.9% in the 1st quarter. AQR Capital Management LLC now owns 3,568 shares of the company’s stock valued at $1,527,000 after purchasing an additional 1,574 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Ferrari by 31.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company’s stock worth $82,000 after buying an additional 46 shares during the last quarter. Woodline Partners LP acquired a new stake in shares of Ferrari during the 1st quarter worth $1,519,000. Sivia Capital Partners LLC raised its position in shares of Ferrari by 67.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 913 shares of the company’s stock worth $448,000 after buying an additional 368 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Ferrari by 7.5% in the 2nd quarter. Rhumbline Advisers now owns 1,370 shares of the company’s stock worth $672,000 after buying an additional 96 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RACE shares. Morgan Stanley reissued an “overweight” rating and set a $442.00 price target on shares of Ferrari in a research report on Friday, July 31st. Citigroup restated a “neutral” rating on shares of Ferrari in a report on Monday, August 3rd. Sanford C. Bernstein lifted their price objective on Ferrari from $402.00 to $460.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. UBS Group decreased their target price on Ferrari from $497.00 to $490.00 and set a “buy” rating for the company in a report on Friday, July 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a research report on Wednesday, July 8th. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Ferrari currently has an average rating of “Moderate Buy” and a consensus price target of $477.15.

Ferrari Stock Down 2.8%

Shares of NYSE RACE opened at $424.31 on Tuesday. Ferrari N.V. has a 12-month low of $312.51 and a 12-month high of $504.49. The company has a market cap of $99.27 billion, a P/E ratio of 39.39, a P/E/G ratio of 3.75 and a beta of 0.91. The company has a current ratio of 4.85, a quick ratio of 3.70 and a debt-to-equity ratio of 0.86. The stock has a fifty day moving average price of $385.77 and a 200 day moving average price of $361.05.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Friday, July 31st. The company reported $2.99 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.16. Ferrari had a return on equity of 42.83% and a net margin of 22.29%.The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the firm posted $2.38 earnings per share. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. Research analysts anticipate that Ferrari N.V. will post 11.18 EPS for the current fiscal year.

Ferrari Company Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.