Ferrari (NYSE:RACE) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. raised its holdings in Ferrari (NYSE:RACE - Free Report) by 60.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,055 shares of the company's stock after purchasing an additional 8,267 shares during the quarter. Franklin Resources Inc.'s holdings in Ferrari were worth $10,707,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of RACE. Cerity Partners LLC boosted its stake in shares of Ferrari by 14.0% during the 3rd quarter. Cerity Partners LLC now owns 26,915 shares of the company's stock worth $12,653,000 after acquiring an additional 3,308 shares in the last quarter. Rheos Capital Works Inc. grew its holdings 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. Raymond James & Associates increased its position in shares of Ferrari by 1.4% in the third quarter. Raymond James & Associates now owns 50,940 shares of the company's stock valued at $23,948,000 after buying an additional 693 shares in the last quarter. Icon Wealth Advisors LLC increased its holdings in Ferrari by 1,403.2% during the 3rd quarter. Icon Wealth Advisors LLC now owns 6,043 shares of the company's stock valued at $2,841,000 after acquiring an additional 5,641 shares in the last quarter. Finally, CreativeOne Wealth LLC purchased a new position in shares of Ferrari during the 3rd quarter worth approximately $1,041,000.

Ferrari Trading Up 0.4 %

Shares of RACE stock traded up $1.63 on Friday, reaching $426.93. 262,677 shares of the stock were exchanged, compared to its average volume of 281,708. 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 stock has a market cap of $78.88 billion, a P/E ratio of 49.59, a price-to-earnings-growth ratio of 4.26 and a beta of 0.95. The firm has a 50 day moving average of $452.55 and a two-hundred day moving average of $446.39. Ferrari has a 1-year low of $330.15 and a 1-year high of $498.23.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing analysts' consensus estimates of $2.11 by ($0.03). The firm had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.98 earnings per share. On average, research analysts anticipate that Ferrari will post 8.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RACE. Morgan Stanley upped their price objective on Ferrari from $400.00 to $520.00 and gave the company an "overweight" rating in a research report on Tuesday, August 27th. StockNews.com lowered shares of Ferrari from a "buy" rating to a "hold" rating in a research report on Wednesday, October 16th. 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 research report on Tuesday, October 22nd. UBS Group boosted their price target on Ferrari from $478.00 to $513.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised Ferrari from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $385.00 to $525.00 in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company 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.