Healthcare of Ontario Pension Plan Trust Fund Grows Stock Holdings in Ferrari (NYSE:RACE)

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Ferrari (NYSE:RACE) by 101.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 155,900 shares of the company’s stock after purchasing an additional 78,400 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Ferrari were worth $73,290,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. grew its stake in Ferrari by 3,806.5% during the second quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock worth $528,000 after buying an additional 1,180 shares during the period. Raymond James & Associates grew its stake in Ferrari by 1.3% during the second quarter. Raymond James & Associates now owns 50,247 shares of the company’s stock worth $20,519,000 after buying an additional 655 shares during the period. Gateway Investment Advisers LLC grew its stake in Ferrari by 46.7% during the second quarter. Gateway Investment Advisers LLC now owns 6,864 shares of the company’s stock worth $2,803,000 after buying an additional 2,185 shares during the period. Rheos Capital Works Inc. boosted its stake in shares of 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 period. Finally, LRI Investments LLC boosted its stake in shares of Ferrari by 379.0% in the second quarter. LRI Investments LLC now owns 958 shares of the company’s stock valued at $391,000 after purchasing an additional 758 shares during the period.

Ferrari Price Performance

Shares of NYSE:RACE opened at $431.40 on Wednesday. Ferrari has a 1-year low of $330.15 and a 1-year high of $498.23. The company’s fifty day moving average is $461.10 and its two-hundred day moving average is $443.24. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55.

Ferrari (NYSE:RACE) last issued its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share 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 analyst estimates of $1.80 billion. Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the company posted $1.98 earnings per share. Equities research analysts forecast that Ferrari will post 8.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RACE. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and upped their target price for the company from $385.00 to $525.00 in a research note on Friday, October 11th. Morgan Stanley upped their target price on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. UBS Group upped their target price on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, StockNews.com downgraded shares of 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 given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.