Holocene Advisors LP Purchases 914 Shares of Ferrari (NYSE:RACE)

Holocene Advisors LP raised its holdings in shares of Ferrari (NYSE:RACE) by 13.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,530 shares of the company’s stock after buying an additional 914 shares during the quarter. Holocene Advisors LP’s holdings in Ferrari were worth $3,540,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in RACE. Rothschild Investment LLC bought a new position in shares of Ferrari in the second quarter worth approximately $29,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Ferrari during the 3rd quarter worth $29,000. Planning Capital Management Corp bought a new stake in shares of Ferrari during the 3rd quarter worth $30,000. Valley Wealth Managers Inc. purchased a new position in Ferrari in the second quarter worth $33,000. Finally, Ashton Thomas Securities LLC bought a new position in Ferrari in the third quarter valued at $33,000.

Ferrari Trading Down 0.0 %

Shares of RACE stock opened at $445.55 on Friday. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a 52 week low of $330.15 and a 52 week high of $498.23. The stock has a fifty day moving average of $456.33 and a 200 day moving average of $443.98.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.03). The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.98 EPS. As a group, research analysts predict that Ferrari will post 8.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RACE shares. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $385.00 to $525.00 in a report on Friday, October 11th. Evercore ISI increased their target price on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Morgan Stanley raised their target price 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, UBS Group upped their price target on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $507.14.

About Ferrari

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.