West Family Investments Inc. Acquires 117 Shares of Ferrari (NYSE:RACE)

West Family Investments Inc. lifted its holdings in Ferrari (NYSE:RACE) by 20.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 678 shares of the company’s stock after buying an additional 117 shares during the period. West Family Investments Inc.’s holdings in Ferrari were worth $319,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its stake in Ferrari by 3.9% in the 1st quarter. Capital Research Global Investors now owns 1,329,714 shares of the company’s stock worth $579,585,000 after buying an additional 49,367 shares during the period. Legal & General Group Plc boosted its stake in 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 in the last quarter. International Assets Investment Management LLC boosted its stake 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 purchasing an additional 1,178,410 shares in the last quarter. Capital International Investors boosted its stake 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 purchasing an additional 791,596 shares in the last quarter. Finally, Capital World Investors boosted its stake 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 purchasing an additional 245,872 shares in the last quarter.

Ferrari Price Performance

Shares of NYSE:RACE opened at $428.43 on Wednesday. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The firm’s 50-day moving average is $464.71 and its two-hundred day moving average is $442.43. Ferrari has a 1 year low of $330.15 and a 1 year high of $498.23.

Ferrari (NYSE:RACE) last released 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). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. 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 company posted $1.98 earnings per share. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts anticipate that Ferrari will post 8.75 EPS for the current year.

Analyst Ratings Changes

RACE has been the subject of a number of recent research reports. Evercore ISI raised their price target on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $385.00 to $525.00 in a research note on Friday, October 11th. StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Morgan Stanley lifted their target price on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Finally, Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. One research 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.