Ferrari (NYSE:RACE) Shares Bought by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG lifted its stake in shares of Ferrari (NYSE:RACE) by 95.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,444 shares of the company’s stock after acquiring an additional 1,194 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Ferrari were worth $1,145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FSC Wealth Advisors LLC acquired a new stake in Ferrari in the 3rd quarter valued at about $47,000. Signaturefd LLC increased its stake in shares of Ferrari by 10.4% during the third quarter. Signaturefd LLC now owns 3,064 shares of the company’s stock worth $1,440,000 after buying an additional 288 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Ferrari by 1.2% in the third quarter. Sequoia Financial Advisors LLC now owns 4,362 shares of the company’s stock valued at $2,051,000 after acquiring an additional 53 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Ferrari by 12.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,260 shares of the company’s stock worth $592,000 after acquiring an additional 136 shares during the last quarter. Finally, Whittier Trust Co. grew its holdings in Ferrari by 8.4% during the 3rd quarter. Whittier Trust Co. now owns 4,102 shares of the company’s stock worth $1,928,000 after acquiring an additional 319 shares in the last quarter.

Ferrari Trading Down 0.3 %

RACE opened at $478.51 on Wednesday. Ferrari has a 52 week low of $296.34 and a 52 week high of $498.23. The business’s 50 day moving average is $471.54 and its two-hundred day moving average is $436.50. The company has a quick ratio of 3.32, a current ratio of 4.35 and a debt-to-equity ratio of 1.01.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Thursday, August 1st. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.21 by $0.08. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.63 billion. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. Ferrari’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.99 EPS. Analysts predict that Ferrari will post 8.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RACE shares. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Morgan Stanley increased their price objective on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Evercore ISI boosted their target price on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and upped their price target for the company from $385.00 to $525.00 in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ferrari currently has a consensus rating of “Moderate Buy” and an average price target of $502.14.

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.