Ferrari (NYSE:RACE) Shares Bought by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lifted its holdings in shares of Ferrari (NYSE:RACE) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,638 shares of the company’s stock after buying an additional 52 shares during the period. Brown Brothers Harriman & Co.’s holdings in Ferrari were worth $3,591,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Jennison Associates LLC increased its stake in Ferrari by 910.1% during the 3rd quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after buying an additional 2,636,869 shares during the period. Legal & General Group Plc boosted its holdings in shares of Ferrari by 2.4% in the second quarter. Legal & General Group Plc now owns 1,256,482 shares of the company’s stock valued at $512,660,000 after acquiring an additional 30,014 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Ferrari by 47,023.5% during the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock valued at $5,551,600,000 after acquiring an additional 1,178,410 shares during the period. Marshall Wace LLP raised its holdings in Ferrari by 108.4% during the second quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock worth $361,961,000 after purchasing an additional 461,409 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Ferrari by 25.8% during the second quarter. Clearbridge Investments LLC now owns 479,135 shares of the company’s stock worth $195,664,000 after purchasing an additional 98,225 shares in the last quarter.

Ferrari Stock Down 0.5 %

Shares of Ferrari stock opened at $435.24 on Tuesday. Ferrari has a 1 year low of $330.15 and a 1 year high of $498.23. The company has a market cap of $80.41 billion, a P/E ratio of 50.55, a P/E/G ratio of 4.07 and a beta of 0.99. 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 stock has a 50-day moving average price of $461.73 and a 200 day moving average price of $443.05.

Ferrari (NYSE:RACE) last posted its quarterly earnings results 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). The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. Ferrari’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $1.98 earnings per share. As a group, analysts expect that Ferrari will post 8.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RACE has been the topic of a number of research reports. Evercore ISI boosted their price objective on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and increased their target price for the company from $385.00 to $525.00 in a research note on Friday, October 11th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Finally, UBS Group lifted their target price on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. 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. According to data from MarketBeat, Ferrari has an average rating of “Moderate Buy” and an average target price 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.