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

Swiss National Bank boosted its stake in Ferrari (NYSE:RACE) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 377,857 shares of the company’s stock after acquiring an additional 1,914 shares during the period. Swiss National Bank’s holdings in Ferrari were worth $177,157,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RACE. Jamison Private Wealth Management Inc. grew its stake in Ferrari by 27.2% during the third quarter. Jamison Private Wealth Management Inc. now owns 103 shares of the company’s stock worth $48,000 after purchasing an additional 22 shares during the period. Contravisory Investment Management Inc. grew its position in shares of Ferrari by 4.6% during the 2nd quarter. Contravisory Investment Management Inc. now owns 518 shares of the company’s stock worth $212,000 after buying an additional 23 shares during the period. First Citizens Bank & Trust Co. increased its stake in shares of Ferrari by 3.3% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 787 shares of the company’s stock valued at $321,000 after acquiring an additional 25 shares in the last quarter. Columbia Asset Management lifted its position in shares of Ferrari by 1.8% during the 2nd quarter. Columbia Asset Management now owns 1,425 shares of the company’s stock valued at $582,000 after acquiring an additional 25 shares during the period. Finally, Addison Advisors LLC boosted its stake in Ferrari by 13.6% during the third quarter. Addison Advisors LLC now owns 217 shares of the company’s stock worth $102,000 after acquiring an additional 26 shares in the last quarter.

Ferrari Stock Performance

Shares of 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 fifty-two week low of $330.15 and a fifty-two week high of $498.23. The business has a 50-day moving average of $466.22 and a 200 day moving average of $442.37.

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

Analyst Ratings Changes

Several research firms have weighed in on RACE. UBS Group lifted their price target on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Evercore ISI increased their price target on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Morgan Stanley boosted their price objective on Ferrari from $400.00 to $520.00 and gave the company 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 research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ferrari presently has a consensus 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.