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

Natixis Advisors LLC boosted its stake in Ferrari (NYSE:RACE) by 3.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 134,687 shares of the company’s stock after purchasing an additional 5,112 shares during the period. Natixis Advisors LLC’s holdings in Ferrari were worth $63,318,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RACE. Vanguard Group Inc. raised its position in shares of Ferrari by 1.4% during the first quarter. Vanguard Group Inc. now owns 4,549,934 shares of the company’s stock worth $1,983,498,000 after acquiring an additional 61,588 shares during the last quarter. Capital Research Global Investors raised its holdings in Ferrari by 3.9% during the 1st quarter. Capital Research Global Investors now owns 1,329,714 shares of the company’s stock worth $579,585,000 after purchasing an additional 49,367 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Ferrari by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 1,256,482 shares of the company’s stock worth $512,660,000 after purchasing an additional 30,014 shares during the period. International Assets Investment Management LLC boosted its stake in shares of 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 valued at $5,551,600,000 after purchasing an additional 1,178,410 shares during the last quarter. Finally, Capital International Investors increased its position in shares of Ferrari by 314.3% during the first 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 period.

Ferrari Stock Performance

Shares of RACE stock opened at $430.99 on Friday. 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 firm has a fifty day simple moving average of $466.22 and a two-hundred day simple moving average of $442.19. Ferrari has a 12 month low of $330.15 and a 12 month high of $498.23.

Ferrari (NYSE:RACE) last posted 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). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm earned $1.98 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. Analysts expect that Ferrari will post 8.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RACE has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded shares of 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 report on Friday, October 11th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Evercore ISI lifted their target price on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Morgan Stanley increased their price target on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Finally, StockNews.com downgraded shares of 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 issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Ferrari has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Company 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.