Ferrari (NYSE:RACE) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its stake in Ferrari (NYSE:RACE) by 63.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,709 shares of the company’s stock after acquiring an additional 1,051 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Ferrari were worth $1,274,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RACE. International Assets Investment Management LLC lifted its position in shares of Ferrari by 47,023.5% in the 3rd 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 in the last quarter. Marshall Wace LLP lifted its holdings in shares of Ferrari by 108.4% in the second quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock valued at $361,961,000 after purchasing an additional 461,409 shares in the last quarter. Dnca Finance purchased a new position in shares of Ferrari during the second quarter valued at $41,165,000. Assenagon Asset Management S.A. grew its holdings in shares of Ferrari by 904.5% during the third quarter. Assenagon Asset Management S.A. now owns 110,565 shares of the company’s stock valued at $51,968,000 after buying an additional 99,558 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in Ferrari by 25.8% during the second quarter. Clearbridge Investments LLC now owns 479,135 shares of the company’s stock valued at $195,664,000 after buying an additional 98,225 shares during the period.

Ferrari Price Performance

NYSE RACE opened at $434.16 on Monday. Ferrari has a fifty-two week low of $330.15 and a fifty-two week high of $498.23. The stock’s 50-day moving average is $459.00 and its two-hundred day moving average is $443.68. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 earnings per share 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 the consensus estimate of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.98 earnings per share. Equities research analysts anticipate that Ferrari will post 8.58 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on RACE shares. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $385.00 to $525.00 in a research note on Friday, October 11th. Evercore ISI lifted their target price on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. UBS Group upped their price target on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley increased their price objective on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $507.14.

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.