Ferrari (NYSE:RACE) Shares Purchased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lifted its stake in Ferrari (NYSE:RACE) by 67.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,461 shares of the company’s stock after purchasing an additional 7,463 shares during the period. Mutual of America Capital Management LLC’s holdings in Ferrari were worth $7,536,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rothschild Investment LLC acquired a new stake in shares of Ferrari in the second quarter valued at about $29,000. Register Financial Advisors LLC acquired a new stake in shares of Ferrari in the first quarter valued at about $33,000. Valley Wealth Managers Inc. acquired a new stake in shares of Ferrari in the second quarter valued at about $33,000. Denver PWM LLC acquired a new stake in shares of Ferrari in the second quarter valued at about $35,000. Finally, Pittenger & Anderson Inc. lifted its stake in shares of Ferrari by 168.6% in the first quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock valued at $41,000 after purchasing an additional 59 shares during the period.

Ferrari Stock Performance

Shares of NYSE RACE opened at $473.66 on Friday. The company has a market cap of $87.51 billion, a PE ratio of 60.49, a price-to-earnings-growth ratio of 4.98 and a beta of 1.00. Ferrari has a 12 month low of $285.02 and a 12 month high of $498.23. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.35 and a quick ratio of 3.32. The company has a 50-day simple moving average of $449.81 and a 200-day simple moving average of $429.56.

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

Analyst Upgrades and Downgrades

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