UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 115,373 Shares of Ferrari (NYSE:RACE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Ferrari (NYSE:RACE) by 33.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 227,638 shares of the company’s stock after selling 115,373 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Ferrari were worth $107,015,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Public Sector Pension Investment Board lifted its stake in shares of Ferrari by 23.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 65,365 shares of the company’s stock valued at $30,617,000 after purchasing an additional 12,411 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ferrari by 1.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,737 shares of the company’s stock valued at $39,223,000 after purchasing an additional 988 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in Ferrari in the third quarter valued at about $1,041,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Ferrari by 101.2% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 155,900 shares of the company’s stock worth $73,290,000 after buying an additional 78,400 shares during the last quarter. Finally, Blueshift Asset Management LLC boosted its holdings in Ferrari by 42.5% during the third quarter. Blueshift Asset Management LLC now owns 2,615 shares of the company’s stock worth $1,229,000 after buying an additional 780 shares during the last quarter.

Ferrari Stock Up 0.6 %

Shares of NYSE RACE opened at $434.16 on Monday. The company has a fifty day moving average price of $459.00 and a 200 day moving average price of $443.68. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a 1-year low of $330.15 and a 1-year high of $498.23.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the firm earned $1.98 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities analysts expect that Ferrari will post 8.58 EPS for the current year.

Analyst Upgrades and Downgrades

RACE has been the topic of a number of analyst reports. Morgan Stanley increased their price target on shares of Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Evercore ISI increased their target price on shares of Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. UBS Group lifted their price target on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $385.00 to $525.00 in a research report on Friday, October 11th. Finally, StockNews.com downgraded 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 issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $507.14.

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.