International Assets Investment Management LLC Has $5.55 Billion Holdings in Ferrari (NYSE:RACE)

International Assets Investment Management LLC lifted its holdings in shares of Ferrari (NYSE:RACE) by 47,023.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,180,916 shares of the company’s stock after buying an additional 1,178,410 shares during the period. Ferrari comprises 0.7% of International Assets Investment Management LLC’s holdings, making the stock its 20th largest position. International Assets Investment Management LLC’s holdings in Ferrari were worth $5,551,600,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Rothschild Investment LLC acquired a new position in shares of Ferrari during the 2nd quarter worth about $29,000. Register Financial Advisors LLC acquired a new position in shares of Ferrari during the 1st quarter worth about $33,000. Valley Wealth Managers Inc. acquired a new position in shares of Ferrari during the 2nd quarter worth about $33,000. Denver PWM LLC acquired a new position in shares of Ferrari during the 2nd quarter worth about $35,000. Finally, Pittenger & Anderson Inc. boosted its stake in shares of Ferrari by 168.6% during the 1st quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock worth $41,000 after buying an additional 59 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RACE shares. JPMorgan Chase & Co. upgraded shares of Ferrari from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $385.00 to $525.00 in a research note on Friday, October 11th. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 2nd. StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Evercore ISI raised their target price on shares of Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Morgan Stanley raised 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Ferrari currently has a consensus rating of “Moderate Buy” and an average target price of $502.14.

Ferrari Stock Up 0.8 %

Ferrari stock opened at $482.44 on Thursday. The stock has a market cap of $89.13 billion, a P/E ratio of 61.61, a P/E/G ratio of 5.12 and a beta of 0.99. The company has a quick ratio of 3.32, a current ratio of 4.35 and a debt-to-equity ratio of 1.01. Ferrari has a twelve month low of $296.34 and a twelve month high of $498.23. The company’s 50-day moving average price is $472.13 and its two-hundred day moving average price is $436.82.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Thursday, August 1st. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.08. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the firm earned $1.99 EPS. The business’s revenue was up 16.1% on a year-over-year basis. As a group, analysts expect that Ferrari will post 8.65 EPS for the current year.

Ferrari Company 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.