Ferrari N.V. $RACE Stock: International Assets Investment Management LLC Boosts Stake

International Assets Investment Management LLC raised its stake in Ferrari N.V. (NYSE:RACE) by 1,856.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,555 shares of the company’s stock after purchasing an additional 15,709 shares during the quarter. International Assets Investment Management LLC’s holdings in Ferrari were worth $6,504,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Biglari Sardar bought a new stake in Ferrari during the second quarter worth $20,997,156. TD Waterhouse Canada Inc. boosted its holdings in shares of Ferrari by 139.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 42,858 shares of the company’s stock valued at $16,058,000 after purchasing an additional 24,956 shares in the last quarter. Biglari Capital CORP. increased its stake in shares of Ferrari by 29.4% in the 1st quarter. Biglari Capital CORP. now owns 291,981 shares of the company’s stock valued at $98,821,000 after purchasing an additional 66,400 shares during the last quarter. Swiss National Bank increased its stake in shares of Ferrari by 26.8% in the 1st quarter. Swiss National Bank now owns 436,456 shares of the company’s stock valued at $145,435,000 after purchasing an additional 92,373 shares during the last quarter. Finally, Junto Capital Management LP bought a new position in shares of Ferrari in the 2nd quarter valued at $25,652,000.

Analysts Set New Price Targets

Several research firms recently weighed in on RACE. Morgan Stanley reduced their price objective on Ferrari from $460.00 to $456.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 30th. Sanford C. Bernstein reissued a “buy” rating on shares of Ferrari in a research note on Tuesday, September 29th. Jefferies Financial Group reissued a “buy” rating on shares of Ferrari in a report on Monday, August 17th. Barclays restated a “buy” rating on shares of Ferrari in a research note on Monday, August 10th. Finally, Wolfe Research started coverage on shares of Ferrari in a report on Tuesday, July 7th. They set an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ferrari currently has an average rating of “Moderate Buy” and a consensus target price of $456.71.

Ferrari Stock Performance

NYSE RACE opened at $396.31 on Monday. The company has a market capitalization of $92.71 billion, a price-to-earnings ratio of 36.79, a PEG ratio of 3.56 and a beta of 0.93. The company has a quick ratio of 3.70, a current ratio of 4.85 and a debt-to-equity ratio of 0.86. Ferrari N.V. has a twelve month low of $312.51 and a twelve month high of $437.15. The stock has a fifty day simple moving average of $403.40 and a 200 day simple moving average of $369.39.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Friday, July 31st. The company reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.16. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Ferrari had a net margin of 22.29% and a return on equity of 42.83%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.38 EPS. Sell-side analysts expect that Ferrari N.V. will post 11.10 EPS for the current year.

Ferrari Company Profile

Ferrari N.V. is an Italian luxury automotive company that designs, develops, manufactures and sells high-performance sports cars. Its vehicle portfolio includes grand touring models, mid- and rear-engine sports cars, limited-edition special series and high-performance supercars. Ferrari also offers extensive personalization options, allowing customers to tailor vehicle specifications, materials and finishes.

The company traces its origins to 1939, when Enzo Ferrari established Auto Avio Costruzioni, and it produced its first Ferrari-badged car in 1947.