Bridgewater Advisors Inc. Acquires Shares of 1,063 Ferrari N.V. (NYSE:RACE)

Bridgewater Advisors Inc. acquired a new stake in Ferrari N.V. (NYSE:RACE) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,063 shares of the company’s stock, valued at approximately $492,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. boosted its holdings in Ferrari by 97.9% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,536 shares of the company’s stock valued at $1,513,000 after purchasing an additional 1,749 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Ferrari by 10.7% during the 1st quarter. Whittier Trust Co. now owns 6,151 shares of the company’s stock valued at $2,632,000 after acquiring an additional 593 shares during the period. Signaturefd LLC lifted its position in shares of Ferrari by 2.7% during the 1st quarter. Signaturefd LLC now owns 3,138 shares of the company’s stock valued at $1,343,000 after acquiring an additional 82 shares during the period. Wilkinson Global Asset Management LLC lifted its position in shares of Ferrari by 1.1% during the 1st quarter. Wilkinson Global Asset Management LLC now owns 8,375 shares of the company’s stock valued at $3,583,000 after acquiring an additional 90 shares during the period. Finally, Cerity Partners LLC lifted its position in shares of Ferrari by 14.1% during the 1st quarter. Cerity Partners LLC now owns 30,218 shares of the company’s stock valued at $12,929,000 after acquiring an additional 3,740 shares during the period.

Ferrari Trading Down 0.3%

Shares of Ferrari stock opened at $486.87 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 4.04. Ferrari N.V. has a 1 year low of $391.54 and a 1 year high of $509.13. The company has a market capitalization of $118.01 billion, a P/E ratio of 51.52, a P/E/G ratio of 5.55 and a beta of 1.09. The business has a 50 day moving average price of $482.21 and a 200 day moving average price of $458.58.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.06. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.82 billion. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. Ferrari’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.95 EPS. Sell-side analysts anticipate that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, March 28th. Wall Street Zen cut shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th. Kepler Capital Markets raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 28th. Finally, UBS Group lifted their price objective on Ferrari from $520.00 to $560.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $526.25.

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.