Clearbridge Investments LLC Purchases 98,225 Shares of Ferrari (NYSE:RACE)

Clearbridge Investments LLC boosted its position in shares of Ferrari (NYSE:RACE) by 25.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 479,135 shares of the company’s stock after acquiring an additional 98,225 shares during the quarter. Clearbridge Investments LLC owned 0.26% of Ferrari worth $195,664,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of RACE. Capital International Investors lifted its position in Ferrari by 314.3% during the first quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock valued at $454,792,000 after purchasing an additional 791,596 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Ferrari by 108.4% in the second quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock worth $361,961,000 after buying an additional 461,409 shares during the period. Capital World Investors lifted its position in shares of Ferrari by 34.3% during the 1st quarter. Capital World Investors now owns 962,583 shares of the company’s stock valued at $419,547,000 after buying an additional 245,872 shares in the last quarter. Capital International Inc. CA lifted its position in shares of Ferrari by 207.3% during the 1st quarter. Capital International Inc. CA now owns 237,277 shares of the company’s stock valued at $103,419,000 after buying an additional 160,055 shares in the last quarter. Finally, Susquehanna International Securities Ltd. bought a new position in shares of Ferrari during the 1st quarter valued at approximately $45,868,000.

Ferrari Stock Performance

Shares of NYSE RACE opened at $455.58 on Wednesday. The company has a market cap of $84.17 billion, a P/E ratio of 58.18, a P/E/G ratio of 4.98 and a beta of 1.00. Ferrari has a 52-week low of $293.49 and a 52-week high of $498.23. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.32 and a current ratio of 4.35. The firm’s fifty day moving average is $457.24 and its two-hundred day moving average is $432.69.

Ferrari (NYSE:RACE) last posted its 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. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.63 billion. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.99 earnings per share. As a group, analysts anticipate that Ferrari will post 8.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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