Sanctuary Advisors LLC Invests $5.18 Million in Ferrari (NYSE:RACE)

Sanctuary Advisors LLC bought a new position in shares of Ferrari (NYSE:RACE - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 12,298 shares of the company's stock, valued at approximately $5,182,000.

Other large investors have also recently added to or reduced their stakes in the company. Capital International Investors grew its holdings in Ferrari by 11.4% during the 4th quarter. Capital International Investors now owns 251,827 shares of the company's stock worth $84,876,000 after acquiring an additional 25,738 shares in the last quarter. Capital World Investors grew its holdings in Ferrari by 0.3% during the 4th quarter. Capital World Investors now owns 716,711 shares of the company's stock worth $241,560,000 after acquiring an additional 1,878 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Ferrari by 1.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 294,385 shares of the company's stock worth $99,548,000 after acquiring an additional 3,691 shares in the last quarter. Ossiam boosted its holdings in shares of Ferrari by 6.9% in the 4th quarter. Ossiam now owns 10,719 shares of the company's stock valued at $3,614,000 after buying an additional 692 shares in the last quarter. Finally, Logan Capital Management Inc. boosted its holdings in shares of Ferrari by 1.9% in the 4th quarter. Logan Capital Management Inc. now owns 4,668 shares of the company's stock valued at $1,580,000 after buying an additional 87 shares in the last quarter.

Ferrari Stock Performance

NYSE RACE traded down $0.28 during trading hours on Friday, hitting $449.81. 289,954 shares of the stock were exchanged, compared to its average volume of 274,611. 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 company has a market cap of $83.10 billion, a price-to-earnings ratio of 57.45, a price-to-earnings-growth ratio of 4.92 and a beta of 0.99. Ferrari has a 12-month low of $296.34 and a 12-month high of $498.23. The stock has a 50-day moving average of $459.71 and a 200 day moving average of $433.15.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.21 by $0.08. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The business had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $1.63 billion. During the same period last year, the firm earned $1.99 EPS. The company's quarterly revenue was up 16.1% compared to the same quarter last year. As a group, equities research analysts forecast that Ferrari will post 8.81 earnings per share for the current year.

Analyst Ratings Changes

RACE has been the subject of several research analyst reports. StockNews.com upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a report on Monday, August 5th. Morgan Stanley increased their price target on shares of Ferrari from $400.00 to $520.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 27th. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, August 2nd. Finally, UBS Group increased their price target on shares of Ferrari from $448.00 to $478.00 and gave the stock a "buy" rating in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $481.67.

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.