Public Employees Retirement System of Ohio Raises Stock Holdings in Ferrari N.V. $RACE

Public Employees Retirement System of Ohio boosted its position in Ferrari N.V. (NYSE:RACE) by 26.1% in the first quarter, Holdings Channel.com reports. The firm owned 83,073 shares of the company’s stock after buying an additional 17,198 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Ferrari were worth $27,650,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Fideuram Asset Management Ireland dac purchased a new stake in shares of Ferrari in the 4th quarter worth about $29,000. Entrust Financial LLC purchased a new stake in Ferrari in the fourth quarter worth about $33,000. Bellevue Asset Management LLC purchased a new stake in Ferrari in the first quarter worth about $34,000. Bamco Inc. NY increased its stake in shares of Ferrari by 790.9% during the fourth quarter. Bamco Inc. NY now owns 98 shares of the company’s stock valued at $36,000 after purchasing an additional 87 shares in the last quarter. Finally, CoreCap Advisors LLC increased its stake in shares of Ferrari by 70.0% during the fourth quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock valued at $38,000 after purchasing an additional 42 shares in the last quarter.

Ferrari Stock Performance

Shares of RACE stock opened at $359.99 on Friday. The company has a market capitalization of $84.22 billion, a price-to-earnings ratio of 34.54, a price-to-earnings-growth ratio of 3.08 and a beta of 0.92. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.08 and a current ratio of 5.20. Ferrari N.V. has a one year low of $312.51 and a one year high of $519.10. The company’s 50-day moving average is $360.00 and its 200 day moving average is $352.45.

Analyst Upgrades and Downgrades

RACE has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a report on Wednesday, July 8th. Jefferies Financial Group upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Morgan Stanley raised Ferrari from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $388.00 to $438.00 in a research report on Monday, June 15th. UBS Group lifted their price objective on Ferrari from $483.00 to $497.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, Wolfe Research started coverage on Ferrari in a research note on Tuesday, July 7th. They set an “outperform” rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $471.97.

Ferrari Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.