Swiss National Bank Acquires 1,914 Shares of Ferrari (NYSE:RACE)

Swiss National Bank grew its holdings in shares of Ferrari (NYSE:RACE) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 377,857 shares of the company’s stock after acquiring an additional 1,914 shares during the quarter. Swiss National Bank’s holdings in Ferrari were worth $177,157,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. International Assets Investment Management LLC lifted its position in Ferrari by 47,023.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock worth $5,551,600,000 after buying an additional 1,178,410 shares during the last quarter. Capital International Investors lifted its position in Ferrari by 314.3% in the 1st quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock worth $454,792,000 after buying an additional 791,596 shares during the last quarter. Marshall Wace LLP lifted its position in Ferrari by 108.4% in the 2nd quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock worth $361,961,000 after buying an additional 461,409 shares during the last quarter. Clearbridge Investments LLC lifted its position in Ferrari by 6,024.9% in the 1st quarter. Clearbridge Investments LLC now owns 380,910 shares of the company’s stock worth $166,054,000 after buying an additional 374,691 shares during the last quarter. Finally, Capital World Investors lifted its position in Ferrari by 34.3% in the 1st quarter. Capital World Investors now owns 962,583 shares of the company’s stock worth $419,547,000 after buying an additional 245,872 shares during the last quarter.

Analyst Upgrades and Downgrades

RACE has been the subject of a number of recent research reports. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $385.00 to $525.00 in a research report on Friday, October 11th. UBS Group boosted their price objective on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. 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. Finally, StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Price Performance

RACE opened at $430.99 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. Ferrari has a 52-week low of $330.15 and a 52-week high of $498.23. The stock’s 50 day moving average price is $466.22 and its 200-day moving average price is $442.37.

Ferrari (NYSE:RACE) last posted its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the firm posted $1.98 earnings per share. Ferrari’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts forecast that Ferrari will post 8.75 EPS for the current year.

Ferrari Profile

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.