Natixis Advisors LLC Purchases 5,112 Shares of Ferrari (NYSE:RACE)

Natixis Advisors LLC grew its holdings in shares of Ferrari (NYSE:RACE) by 3.9% in the third quarter, Holdings Channel.com reports. The firm owned 134,687 shares of the company’s stock after buying an additional 5,112 shares during the period. Natixis Advisors LLC’s holdings in Ferrari were worth $63,318,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of RACE. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Ferrari during the 3rd quarter valued at approximately $29,000. Planning Capital Management Corp bought a new stake in Ferrari during the 3rd quarter valued at $30,000. Rothschild Investment LLC purchased a new stake in shares of Ferrari during the second quarter worth $29,000. Ashton Thomas Securities LLC bought a new position in shares of Ferrari in the third quarter worth $33,000. Finally, Valley Wealth Managers Inc. purchased a new position in shares of Ferrari in the second quarter valued at $33,000.

Wall Street Analyst Weigh In

RACE has been the topic of a number of recent research reports. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. Evercore ISI upped their price target on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $385.00 to $525.00 in a research note on Friday, October 11th. Finally, 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 research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Ferrari presently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Trading Down 2.1 %

Ferrari stock opened at $430.99 on Friday. Ferrari has a fifty-two week low of $330.15 and a fifty-two week high of $498.23. The firm’s fifty day moving average price is $466.22 and its 200-day moving average price is $442.19. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the business earned $1.98 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts forecast that Ferrari will post 8.75 earnings per share 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.