Triasima Portfolio Management inc. Purchases 7,655 Shares of Ferrari N.V. $RACE

Triasima Portfolio Management inc. purchased a new position in Ferrari N.V. (NYSE:RACE) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 7,655 shares of the company’s stock, valued at approximately $3,007,000.

A number of other hedge funds have also recently made changes to their positions in RACE. Amundi grew its stake in Ferrari by 3.4% in the second quarter. Amundi now owns 3,060,265 shares of the company’s stock valued at $1,139,306,000 after purchasing an additional 101,906 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Ferrari by 8.4% in the first quarter. Bank of New York Mellon Corp now owns 2,808,855 shares of the company’s stock worth $950,657,000 after purchasing an additional 218,830 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of Ferrari during the second quarter valued at about $413,209,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Ferrari during the second quarter valued at about $388,816,000. Finally, Ninety One UK Ltd lifted its position in shares of Ferrari by 12.3% during the third quarter. Ninety One UK Ltd now owns 941,574 shares of the company’s stock valued at $370,470,000 after buying an additional 103,264 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RACE. The Goldman Sachs Group restated a “buy” rating on shares of Ferrari in a report on Tuesday, August 11th. Banca Akros lowered shares of Ferrari to a “neutral” rating in a research note on Monday, August 24th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Ferrari in a research report on Tuesday, September 29th. Needham & Company LLC raised shares of Ferrari to a “neutral” rating in a research report on Friday, July 31st. Finally, Morgan Stanley lowered their target price on shares of Ferrari from $460.00 to $456.00 and set an “overweight” rating for the company in a research note on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Ferrari has an average rating of “Moderate Buy” and a consensus target price of $456.71.

Ferrari Trading Up 2.8%

Shares of Ferrari stock opened at $398.21 on Friday. The firm’s 50 day simple moving average is $407.46 and its two-hundred day simple moving average is $375.44. The firm has a market capitalization of $93.16 billion, a price-to-earnings ratio of 35.97, a PEG ratio of 3.33 and a beta of 0.93. Ferrari N.V. has a 12-month low of $312.51 and a 12-month high of $437.15. The company has a current ratio of 4.85, a quick ratio of 3.70 and a debt-to-equity ratio of 0.86.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Friday, July 31st. The company reported $2.99 EPS for the quarter, topping the consensus estimate of $2.83 by $0.16. Ferrari had a net margin of 22.29% and a return on equity of 42.83%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the firm posted $2.38 earnings per share. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. Analysts predict that Ferrari N.V. will post 11.16 EPS for the current year.

Ferrari Profile

Ferrari N.V. is an Italian luxury automotive company that designs, develops, manufactures and sells high-performance sports cars. Its product portfolio includes mid- and front-engine sports cars, grand touring models, special-series vehicles and limited-edition automobiles. Ferrari also develops hybrid and other electrified models while maintaining a focus on performance, craftsmanship, design and exclusivity.

The company generates additional activities through its racing operations, vehicle personalization programs, financial services, merchandise, licensing and branded experiences.