Ferrari (NYSE:RACE) Shares Purchased by Rheos Capital Works Inc.

Rheos Capital Works Inc. raised its holdings in shares of Ferrari (NYSE:RACE) by 26.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 141,700 shares of the company’s stock after purchasing an additional 30,000 shares during the period. Ferrari accounts for approximately 3.3% of Rheos Capital Works Inc.’s holdings, making the stock its 5th biggest holding. Rheos Capital Works Inc. owned about 0.06% of Ferrari worth $60,200,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in Ferrari in the third quarter valued at about $29,000. Hanson & Doremus Investment Management acquired a new position in shares of Ferrari during the 4th quarter worth about $26,000. Planning Capital Management Corp bought a new stake in shares of Ferrari in the 3rd quarter valued at about $30,000. Ashton Thomas Securities LLC acquired a new stake in shares of Ferrari in the 3rd quarter valued at approximately $33,000. Finally, FSC Wealth Advisors LLC bought a new position in Ferrari during the 3rd quarter worth approximately $47,000.

Ferrari Trading Down 0.6 %

NYSE RACE opened at $429.35 on Monday. Ferrari has a 52 week low of $345.92 and a 52 week high of $498.23. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The stock’s 50 day moving average price is $433.65 and its two-hundred day moving average price is $448.70. The stock has a market capitalization of $104.65 billion, a price-to-earnings ratio of 49.87, a PEG ratio of 3.72 and a beta of 0.95.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.98 EPS. As a group, analysts anticipate that Ferrari will post 8.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on RACE shares. 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. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $385.00 to $525.00 in a research note on Friday, October 11th. Finally, Evercore ISI boosted their price objective on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $507.14.

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.