Brown Brothers Harriman & Co. Purchases 52 Shares of Ferrari (NYSE:RACE)

Brown Brothers Harriman & Co. boosted its holdings in shares of Ferrari (NYSE:RACE) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,638 shares of the company’s stock after acquiring an additional 52 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Ferrari were worth $3,591,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RACE. Advisors Asset Management Inc. lifted its stake in shares of Ferrari by 2.2% in the first quarter. Advisors Asset Management Inc. now owns 1,442 shares of the company’s stock worth $629,000 after buying an additional 31 shares during the last quarter. Janus Henderson Group PLC lifted its position in Ferrari by 10.4% during the 1st quarter. Janus Henderson Group PLC now owns 77,864 shares of the company’s stock worth $34,013,000 after acquiring an additional 7,336 shares during the last quarter. Castleark Management LLC grew its position in shares of Ferrari by 495.5% in the first quarter. Castleark Management LLC now owns 18,104 shares of the company’s stock valued at $7,892,000 after purchasing an additional 15,064 shares during the last quarter. SkyView Investment Advisors LLC bought a new position in shares of Ferrari in the first quarter worth about $1,341,000. Finally, Western Pacific Wealth Management LP increased its stake in shares of Ferrari by 989.3% in the first quarter. Western Pacific Wealth Management LP now owns 305 shares of the company’s stock worth $133,000 after purchasing an additional 277 shares during the period.

Ferrari Price Performance

NYSE:RACE opened at $435.24 on Tuesday. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The firm has a market cap of $80.41 billion, a PE ratio of 50.55, a price-to-earnings-growth ratio of 4.07 and a beta of 0.99. Ferrari has a 12 month low of $330.15 and a 12 month high of $498.23. The company’s 50-day moving average price is $461.73 and its two-hundred day moving average price is $443.05.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the firm earned $1.98 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. On average, equities analysts anticipate that Ferrari will post 8.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RACE has been the subject of several recent analyst reports. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $385.00 to $525.00 in a research report on Friday, October 11th. UBS Group boosted their target price on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Morgan Stanley boosted their price objective on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Finally, Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Ferrari presently has a consensus rating of “Moderate Buy” and a consensus price target 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.