Ferrari (NYSE:RACE) Shares Bought by Capital Wealth Planning LLC

Capital Wealth Planning LLC grew its holdings in shares of Ferrari (NYSE:RACE) by 22.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,185 shares of the company’s stock after purchasing an additional 1,674 shares during the period. Capital Wealth Planning LLC’s holdings in Ferrari were worth $3,751,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Ferrari by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 4,549,934 shares of the company’s stock worth $1,983,498,000 after acquiring an additional 61,588 shares during the period. Norges Bank acquired a new stake in shares of Ferrari in the 4th quarter worth about $572,523,000. Capital Research Global Investors increased its holdings in shares of Ferrari by 3.9% in the 1st quarter. Capital Research Global Investors now owns 1,329,714 shares of the company’s stock worth $579,585,000 after acquiring an additional 49,367 shares during the period. Capital International Investors increased its holdings in shares of Ferrari by 314.3% in the 1st quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock worth $454,792,000 after acquiring an additional 791,596 shares during the period. Finally, Capital World Investors increased its holdings in shares of Ferrari by 34.3% in the 1st quarter. Capital World Investors now owns 962,583 shares of the company’s stock worth $419,547,000 after acquiring an additional 245,872 shares during the period.

Ferrari Trading Down 0.6 %

NYSE:RACE opened at $469.09 on Monday. Ferrari has a twelve month low of $285.02 and a twelve month 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 company has a 50-day moving average of $446.99 and a 200-day moving average of $428.51.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Thursday, August 1st. The company reported $2.29 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the firm posted $1.99 EPS. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. Equities analysts expect that Ferrari will post 8.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RACE. 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 report on Monday, August 5th. UBS Group increased their target price on shares of Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, Morgan Stanley increased their target price on shares of 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $481.67.

Ferrari Profile

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.