Employees Retirement System of Texas Has $8,344,000 Holdings in Ferrari N.V. (RACE)
Employees Retirement System of Texas held its position in Ferrari N.V. (NYSE:RACE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,000 shares of the company’s stock at the close of the second quarter. Employees Retirement System of Texas owned 0.05% of Ferrari N.V. worth $8,344,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. bought a new position in Ferrari N.V. in the first quarter valued at about $127,000. PNC Financial Services Group Inc. boosted its stake in shares of Ferrari N.V. by 48.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,798 shares of the company’s stock valued at $135,000 after purchasing an additional 586 shares during the last quarter. Opera Trading Capital acquired a new stake in shares of Ferrari N.V. during the 2nd quarter worth approximately $172,000. Ameriprise Financial Inc. acquired a new stake in shares of Ferrari N.V. during the 2nd quarter worth approximately $216,000. Finally, Advisor Group Inc. grew its position in shares of Ferrari N.V. by 48.0% during the 2nd quarter. Advisor Group Inc. now owns 2,574 shares of the company’s stock worth $223,000 after buying an additional 835 shares during the period. 29.78% of the stock is currently owned by institutional investors.
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A number of research analysts have recently weighed in on RACE shares. Morgan Stanley downgraded Ferrari N.V. from an “overweight” rating to an “underweight” rating and set a $100.00 price target on the stock. in a research note on Thursday, September 7th. Zacks Investment Research upgraded Ferrari N.V. from a “hold” rating to a “buy” rating and set a $112.00 target price on the stock in a report on Saturday, July 22nd. UBS AG reiterated a “buy” rating and set a $100.00 target price (up from $92.00) on shares of Ferrari N.V. in a report on Tuesday, July 11th. Bank of America Corporation reissued a “buy” rating and issued a $100.00 target price (up from $90.00) on shares of Ferrari N.V. in a research note on Friday, June 16th. Finally, Berenberg Bank reissued a “buy” rating on shares of Ferrari N.V. in a research note on Monday, August 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Ferrari N.V. has a consensus rating of “Hold” and an average price target of $101.75.
Shares of Ferrari N.V. (RACE) traded up 0.86% during midday trading on Tuesday, reaching $113.40. 89,963 shares of the company’s stock traded hands. The stock has a market cap of $21.43 billion, a P/E ratio of 37.00 and a beta of 1.71. Ferrari N.V. has a 12 month low of $50.39 and a 12 month high of $118.10. The stock has a 50 day moving average of $112.18 and a 200-day moving average of $92.54.
Ferrari N.V. (NYSE:RACE) last posted its earnings results on Wednesday, August 2nd. The company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.13. Ferrari N.V. had a net margin of 14.43% and a return on equity of 128.49%. The company had revenue of $1.01 billion for the quarter. On average, equities research analysts forecast that Ferrari N.V. will post $3.25 EPS for the current fiscal year.
Ferrari N.V. Company Profile
Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
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