Ferrari (NYSE:RACE) is Banco Santander S.A.’s 7th Largest Position

Banco Santander S.A. cut its holdings in shares of Ferrari (NYSE:RACE) by 0.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 398,057 shares of the company’s stock after selling 1,729 shares during the quarter. Ferrari makes up about 2.2% of Banco Santander S.A.’s investment portfolio, making the stock its 7th biggest position. Banco Santander S.A.’s holdings in Ferrari were worth $187,131,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RACE. Jennison Associates LLC grew its holdings in shares of Ferrari by 910.1% in the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock valued at $1,368,622,000 after purchasing an additional 2,636,869 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Ferrari by 47,023.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,180,916 shares of the company’s stock worth $5,551,600,000 after buying an additional 1,178,410 shares during the last quarter. Capital International Investors increased its holdings in shares of Ferrari by 314.3% in the 1st quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock worth $454,792,000 after buying an additional 791,596 shares during the last quarter. Marshall Wace LLP raised its position in shares of Ferrari by 108.4% during the 2nd quarter. Marshall Wace LLP now owns 887,108 shares of the company’s stock valued at $361,961,000 after buying an additional 461,409 shares in the last quarter. Finally, Capital World Investors lifted its holdings in shares of Ferrari by 34.3% in the 1st quarter. Capital World Investors now owns 962,583 shares of the company’s stock valued at $419,547,000 after acquiring an additional 245,872 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group raised their price target on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. Evercore ISI raised their target price on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley upped their price target on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Stock Down 0.1 %

NYSE:RACE opened at $426.53 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The firm has a market cap of $78.80 billion, a PE ratio of 49.61, a price-to-earnings-growth ratio of 4.50 and a beta of 0.99. The company has a 50-day moving average of $463.76 and a 200 day moving average of $442.32. Ferrari has a 1-year low of $330.15 and a 1-year high of $498.23.

Ferrari (NYSE:RACE) last released its quarterly earnings data 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). The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. Ferrari’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.98 earnings per share. As a group, research analysts anticipate that Ferrari will post 8.75 EPS for the current fiscal year.

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.