63,945 Shares in Ferrari (NYSE:RACE) Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new position in shares of Ferrari (NYSE:RACE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 63,945 shares of the company’s stock, valued at approximately $29,956,000.

A number of other large investors have also recently bought and sold shares of the company. Jamison Private Wealth Management Inc. boosted its stake in Ferrari by 27.2% in the third quarter. Jamison Private Wealth Management Inc. now owns 103 shares of the company’s stock valued at $48,000 after buying an additional 22 shares in the last quarter. First Citizens Bank & Trust Co. boosted 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 purchasing an additional 25 shares in the last quarter. Columbia Asset Management grew its holdings 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 purchasing an additional 25 shares during the last quarter. Elite Wealth Management Inc. increased its position in Ferrari by 1.0% during the 3rd quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock worth $1,225,000 after purchasing an additional 25 shares in the last quarter. Finally, Addison Advisors LLC lifted its stake in Ferrari by 13.6% in the 3rd quarter. Addison Advisors LLC now owns 217 shares of the company’s stock valued at $102,000 after purchasing an additional 26 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RACE. StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. UBS Group boosted their price target on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $385.00 to $525.00 in a report on Friday, October 11th. Evercore ISI boosted their target price on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley raised their price target on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Stock Performance

Shares of NYSE RACE opened at $448.51 on Tuesday. The company’s 50 day moving average price is $455.63 and its 200-day moving average price is $444.90. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a 52-week low of $330.15 and a 52-week high of $498.23.

Ferrari (NYSE:RACE) last released 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 firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the firm earned $1.98 EPS. Ferrari’s quarterly revenue was up 6.5% on a year-over-year basis. Research analysts forecast that Ferrari will post 8.58 EPS for the current year.

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.