Ferrari (NYSE:RACE) Shares Bought by Baltimore Washington Financial Advisors Inc.

Baltimore Washington Financial Advisors Inc. raised its stake in Ferrari (NYSE:RACE) by 6.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,866 shares of the company’s stock after acquiring an additional 634 shares during the quarter. Baltimore Washington Financial Advisors Inc.’s holdings in Ferrari were worth $4,638,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in Ferrari by 3,806.5% in the second quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock valued at $528,000 after purchasing an additional 1,180 shares during the last quarter. Raymond James & Associates increased its stake in Ferrari by 1.3% in the second quarter. Raymond James & Associates now owns 50,247 shares of the company’s stock valued at $20,519,000 after purchasing an additional 655 shares during the last quarter. Gateway Investment Advisers LLC increased its stake in Ferrari by 46.7% in the second quarter. Gateway Investment Advisers LLC now owns 6,864 shares of the company’s stock valued at $2,803,000 after purchasing an additional 2,185 shares during the last quarter. Rheos Capital Works Inc. increased its stake in Ferrari by 30.3% in the third quarter. Rheos Capital Works Inc. now owns 111,700 shares of the company’s stock valued at $52,511,000 after purchasing an additional 26,000 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Ferrari by 213.7% in the first quarter. Canada Pension Plan Investment Board now owns 62,081 shares of the company’s stock valued at $27,082,000 after purchasing an additional 42,290 shares during the last quarter.

Ferrari Trading Up 1.9 %

RACE stock opened at $437.62 on Friday. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 1 year low of $330.15 and a 1 year high of $498.23. The stock has a 50-day simple moving average of $462.30 and a 200-day simple moving average of $442.60.

Ferrari (NYSE:RACE) last posted its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the business posted $1.98 EPS. Ferrari’s quarterly revenue was up 6.5% compared to the same quarter last year. Sell-side analysts forecast that Ferrari will post 8.75 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RACE shares. Evercore ISI upped their target price on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. Morgan Stanley upped their target price on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. UBS Group upped their price target on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Company 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.