Baskin Financial Services Inc. lowered its position in shares of Ferrari (NYSE:RACE – Get Rating) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 133,282 shares of the company's stock after selling 1,924 shares during the period. Ferrari comprises about 2.6% of Baskin Financial Services Inc.'s investment portfolio, making the stock its 17th biggest holding. Baskin Financial Services Inc. owned approximately 0.07% of Ferrari worth $24,455,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Ferrari by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 4,242,136 shares of the company's stock valued at $925,168,000 after buying an additional 151,938 shares during the period. Norges Bank purchased a new stake in Ferrari during the 4th quarter valued at $374,511,000. BlackRock Inc. raised its holdings in Ferrari by 3.3% in the 1st quarter. BlackRock Inc. now owns 1,066,538 shares of the company's stock worth $232,602,000 after purchasing an additional 33,643 shares in the last quarter. AKO Capital LLP raised its holdings in Ferrari by 0.5% in the 1st quarter. AKO Capital LLP now owns 951,880 shares of the company's stock worth $209,103,000 after purchasing an additional 4,746 shares in the last quarter. Finally, Martin Currie Ltd. raised its holdings in Ferrari by 24.6% in the 1st quarter. Martin Currie Ltd. now owns 683,138 shares of the company's stock worth $148,982,000 after purchasing an additional 135,048 shares in the last quarter. Hedge funds and other institutional investors own 32.31% of the company's stock.
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Ferrari Stock Down 1.5 %
NYSE:RACE traded down $2.88 on Friday, reaching $186.25. 577,146 shares of the stock traded hands, compared to its average volume of 323,236. The company has a market capitalization of $34.41 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 3.28 and a beta of 0.97. The company has a current ratio of 4.14, a quick ratio of 3.42 and a debt-to-equity ratio of 1.22. Ferrari has a 12 month low of $167.45 and a 12 month high of $278.78. The company's fifty day simple moving average is $202.13 and its 200 day simple moving average is $200.55.
Ferrari (NYSE:RACE – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.27. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.19 billion. Ferrari had a net
margin of 19.35% and a return on equity of 40.61%. Equities analysts predict that Ferrari will post 4.95 EPS for the current fiscal year.
Wall Street Analyst Weigh In
RACE has been the subject of several research reports. StockNews.com upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a report on Friday. Cheuvreux upgraded shares of Ferrari from a "reduce" rating to a "hold" rating in a report on Wednesday, June 8th. Sanford C. Bernstein initiated coverage on shares of Ferrari in a report on Tuesday, July 19th. They issued a "market perform" rating for the company. Kepler Capital Markets upgraded shares of Ferrari to a "hold" rating and set a $185.00 price objective for the company in a report on Friday, July 8th. Finally, Jefferies Financial Group upgraded shares of Ferrari from an "underperform" rating to a "hold" rating and set a $180.00 price target for the company in a research note on Monday, July 4th. Six research analysts have rated the stock with a hold rating and nine have issued 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 $237.00.
About Ferrari
(Get Rating)
Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hyper cars; one-off and track cars; and Icona cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.
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