Vanguard Personalized Indexing Management LLC Raises Stock Position in Ferrari (NYSE:RACE)

Vanguard Personalized Indexing Management LLC boosted its holdings in Ferrari (NYSE:RACE) by 12.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,208 shares of the company’s stock after purchasing an additional 566 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Ferrari were worth $2,106,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RACE. Blue Trust Inc. grew its stake in shares of Ferrari by 3,806.5% during the 2nd quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock worth $528,000 after purchasing an additional 1,180 shares during the period. Logan Capital Management Inc. grew its stake in Ferrari by 1.9% in the 4th quarter. Logan Capital Management Inc. now owns 4,668 shares of the company’s stock valued at $1,580,000 after acquiring an additional 87 shares during the last quarter. Raymond James & Associates grew its stake in Ferrari by 1.3% in the 2nd quarter. Raymond James & Associates now owns 50,247 shares of the company’s stock valued at $20,519,000 after acquiring an additional 655 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Ferrari by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 4,488,346 shares of the company’s stock valued at $1,518,991,000 after purchasing an additional 46,938 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Ferrari by 10.5% in the 1st quarter. Jennison Associates LLC now owns 266,608 shares of the company’s stock valued at $116,225,000 after purchasing an additional 25,228 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have recently weighed in on RACE shares. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. UBS Group increased their price objective on shares of Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Morgan Stanley increased their price objective 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. Finally, StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $481.67.

Ferrari Price Performance

Shares of Ferrari stock opened at $470.56 on Friday. The stock has a 50-day simple moving average of $450.52 and a 200-day simple moving average of $429.95. Ferrari has a 52-week low of $285.02 and a 52-week high of $498.23. The company has a current ratio of 4.35, a quick ratio of 3.32 and a debt-to-equity ratio of 1.01.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Thursday, August 1st. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.08. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. Ferrari’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.99 earnings per share. On average, research analysts anticipate that Ferrari will post 8.71 EPS for the current fiscal 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.