Custom Index Systems LLC Has $410,000 Stock Position in Ferrari (NYSE:RACE)

Custom Index Systems LLC raised its holdings in Ferrari (NYSE:RACE) by 7.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 873 shares of the company’s stock after buying an additional 61 shares during the quarter. Custom Index Systems LLC’s holdings in Ferrari were worth $410,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake 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 valued at $1,983,498,000 after buying an additional 61,588 shares during the period. Capital Research Global Investors boosted its holdings in Ferrari by 3.9% in the first 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 in the last quarter. Legal & General Group Plc grew its stake in Ferrari by 2.4% in the second quarter. Legal & General Group Plc now owns 1,256,482 shares of the company’s stock valued at $512,660,000 after acquiring an additional 30,014 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Ferrari by 47,023.5% during the third quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock valued at $5,551,600,000 after acquiring an additional 1,178,410 shares in the last quarter. Finally, Capital International Investors raised its position in shares of Ferrari by 314.3% during the first quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock worth $454,792,000 after purchasing an additional 791,596 shares during the period.

Ferrari Stock Performance

RACE stock opened at $484.73 on Monday. The company has a quick ratio of 3.32, a current ratio of 4.35 and a debt-to-equity ratio of 1.01. The firm has a market cap of $89.55 billion, a PE ratio of 61.91, a P/E/G ratio of 5.08 and a beta of 0.99. The business has a 50 day moving average of $473.28 and a 200-day moving average of $437.84. Ferrari has a 12-month low of $296.34 and a 12-month high of $498.23.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 45.13% and a net margin of 21.84%. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.99 EPS. As a group, sell-side analysts expect that Ferrari will post 8.65 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on RACE shares. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $385.00 to $525.00 in a research report on Friday, October 11th. Evercore ISI lifted their price objective on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Morgan Stanley upped 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. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. Finally, StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $502.14.

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.