Ferrari (NYSE:RACE) Shares Acquired by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. increased its holdings in Ferrari (NYSE:RACE) by 12.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,260 shares of the company’s stock after acquiring an additional 136 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Ferrari were worth $592,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in Ferrari by 1.4% during the first quarter. Vanguard Group Inc. now owns 4,549,934 shares of the company’s stock valued at $1,983,498,000 after buying an additional 61,588 shares in the last quarter. Capital Research Global Investors raised its stake in Ferrari by 3.9% during the first quarter. Capital Research Global Investors now owns 1,329,714 shares of the company’s stock valued at $579,585,000 after buying an additional 49,367 shares in the last quarter. Legal & General Group Plc raised its stake in Ferrari by 2.4% during the second quarter. Legal & General Group Plc now owns 1,256,482 shares of the company’s stock valued at $512,660,000 after buying an additional 30,014 shares in the last quarter. Capital International Investors raised its stake in Ferrari by 314.3% during the first quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock valued at $454,792,000 after buying an additional 791,596 shares in the last quarter. Finally, Capital World Investors raised its stake in Ferrari by 34.3% during the first quarter. Capital World Investors now owns 962,583 shares of the company’s stock valued at $419,547,000 after buying an additional 245,872 shares in the last quarter.

Analysts Set New Price Targets

RACE has been the topic of several research reports. Morgan Stanley upped their price objective on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $385.00 to $525.00 in a research report on Friday, October 11th. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. Finally, Evercore ISI raised their target price on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday. One 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $502.14.

Ferrari Trading Down 0.3 %

Shares of RACE opened at $478.51 on Wednesday. Ferrari has a 1 year low of $296.34 and a 1 year high of $498.23. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.35 and a quick ratio of 3.32. The firm has a fifty day moving average of $471.54 and a 200-day moving average of $436.50.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Thursday, August 1st. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.08. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.63 billion. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.99 earnings per share. Equities analysts forecast that Ferrari will post 8.65 earnings per share for the current year.

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.