Dimensional Fund Advisors LP Raises Stock Position in Ferrari (NYSE:RACE)

Dimensional Fund Advisors LP boosted its stake in Ferrari (NYSE:RACE) by 25.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 151,750 shares of the company’s stock after purchasing an additional 30,461 shares during the period. Dimensional Fund Advisors LP’s holdings in Ferrari were worth $61,970,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Blue Trust Inc. raised its position 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 valued at $528,000 after purchasing an additional 1,180 shares during the period. Logan Capital Management Inc. lifted 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 worth $1,580,000 after purchasing an additional 87 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Ferrari by 1.3% during the 2nd quarter. Raymond James & Associates now owns 50,247 shares of the company’s stock valued at $20,519,000 after purchasing an additional 655 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Ferrari by 1.1% during 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 during the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Ferrari by 10.5% in the first quarter. Jennison Associates LLC now owns 266,608 shares of the company’s stock worth $116,225,000 after purchasing an additional 25,228 shares during the last quarter.

Ferrari Price Performance

RACE stock opened at $471.69 on Friday. The business has a 50 day moving average price of $454.62 and a 200 day moving average price of $431.59. Ferrari has a fifty-two week low of $289.92 and a fifty-two week high of $498.23. The company has a quick ratio of 3.32, a current ratio of 4.35 and a debt-to-equity ratio of 1.01. The stock has a market cap of $87.14 billion, a price-to-earnings ratio of 60.24, a PEG ratio of 4.97 and a beta of 1.00.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.08. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the firm posted $1.99 EPS. Ferrari’s revenue for the quarter was up 16.1% on a year-over-year basis. Equities research analysts anticipate that Ferrari will post 8.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RACE shares. Morgan Stanley increased their price target on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. Finally, UBS Group upped their target price on Ferrari from $448.00 to $478.00 and gave the stock a “buy” rating in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ferrari currently has an average rating of “Moderate Buy” and a consensus target price of $481.67.

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.