Triasima Portfolio Management inc. Boosts Stake in Ferrari (NYSE:RACE)

Triasima Portfolio Management inc. raised its position in shares of Ferrari (NYSE:RACE) by 8.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 21,782 shares of the company’s stock after buying an additional 1,711 shares during the quarter. Ferrari comprises approximately 1.8% of Triasima Portfolio Management inc.’s holdings, making the stock its 13th largest position. Triasima Portfolio Management inc.’s holdings in Ferrari were worth $9,254,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its holdings in Ferrari by 14.0% in the third quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock valued at $12,653,000 after buying an additional 3,308 shares during the last quarter. Miracle Mile Advisors LLC grew its holdings in Ferrari by 123.9% in the 4th quarter. Miracle Mile Advisors LLC now owns 9,005 shares of the company’s stock worth $3,826,000 after buying an additional 4,983 shares in the last quarter. Mediolanum International Funds Ltd grew its holdings in Ferrari by 24.7% in the 4th quarter. Mediolanum International Funds Ltd now owns 9,071 shares of the company’s stock worth $3,874,000 after buying an additional 1,796 shares in the last quarter. Rheos Capital Works Inc. grew its holdings in Ferrari by 30.3% in the 3rd quarter. Rheos Capital Works Inc. now owns 111,700 shares of the company’s stock worth $52,511,000 after buying an additional 26,000 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in Ferrari by 1.4% in the 3rd quarter. Raymond James & Associates now owns 50,940 shares of the company’s stock worth $23,948,000 after buying an additional 693 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $385.00 to $525.00 in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research report on Thursday. They issued a “hold” rating for the company. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Evercore ISI upped their target price on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Price Performance

Shares of NYSE:RACE opened at $461.67 on Friday. Ferrari has a one year low of $375.31 and a one year high of $498.23. The stock has a fifty day moving average of $435.35 and a 200-day moving average of $449.25. The company has a market capitalization of $112.53 billion, a PE ratio of 53.62, a price-to-earnings-growth ratio of 3.72 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57.

Ferrari (NYSE:RACE) last released its earnings results on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. Ferrari’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.98 EPS. As a group, equities analysts anticipate that Ferrari will post 8.59 EPS for the current fiscal year.

About Ferrari

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.