BNP Paribas Financial Markets Has $103.62 Million Holdings in Ferrari (NYSE:RACE)

BNP Paribas Financial Markets grew its position in Ferrari (NYSE:RACE) by 89.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 220,418 shares of the company’s stock after purchasing an additional 104,366 shares during the period. BNP Paribas Financial Markets’ holdings in Ferrari were worth $103,621,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Advisors Asset Management Inc. increased its position in Ferrari by 2.2% during the 1st quarter. Advisors Asset Management Inc. now owns 1,442 shares of the company’s stock worth $629,000 after buying an additional 31 shares during the period. Janus Henderson Group PLC raised its stake in Ferrari by 10.4% in the 1st quarter. Janus Henderson Group PLC now owns 77,864 shares of the company’s stock worth $34,013,000 after purchasing an additional 7,336 shares in the last quarter. Virtu Financial LLC bought a new stake in Ferrari in the 1st quarter valued at about $293,000. LRI Investments LLC bought a new stake in Ferrari in the 1st quarter valued at about $87,000. Finally, Atria Investments Inc grew its position in shares of Ferrari by 34.6% during the 1st quarter. Atria Investments Inc now owns 7,017 shares of the company’s stock worth $3,059,000 after purchasing an additional 1,804 shares in the last quarter.

Ferrari Stock Performance

Shares of RACE opened at $431.40 on Wednesday. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a 12-month low of $330.15 and a 12-month high of $498.23. The business has a 50-day simple moving average of $461.10 and a two-hundred day simple moving average of $443.24.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the business earned $1.98 EPS. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, analysts predict that Ferrari will post 8.66 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RACE. Morgan Stanley lifted their price target on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and upped their target price for the company from $385.00 to $525.00 in a research report on Friday, October 11th. UBS Group raised their price target on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Evercore ISI upped their price objective 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. One equities 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

Ferrari 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.