Public Employees Retirement System of Ohio Purchases 17,198 Shares of Ferrari N.V. $RACE

Public Employees Retirement System of Ohio increased its position in Ferrari N.V. (NYSE:RACE – Free Report) by 26.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Ferrari in the fourth quarter valued at about $779,894,000. Ninety One UK Ltd purchased a new stake in shares of Ferrari during the fourth quarter worth about $338,785,000. Morgan Stanley boosted its holdings in shares of Ferrari by 43.4% during the fourth quarter. Morgan Stanley now owns 2,546,564 shares of the company’s stock worth $941,109,000 after purchasing an additional 771,039 shares during the period. Viking Global Investors LP boosted its holdings in shares of Ferrari by 432.7% during the second quarter. Viking Global Investors LP now owns 721,269 shares of the company’s stock worth $353,526,000 after purchasing an additional 585,872 shares during the period. Finally, Credit Agricole S A bought a new stake in shares of Ferrari in the third quarter worth about $279,003,000.

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Ferrari Price Performance

Shares of NYSE RACE opened at $359.99 on Friday. Ferrari N.V. has a 1 year low of $312.51 and a 1 year high of $519.10. The stock has a market capitalization of $84.22 billion, a P/E ratio of 34.54, a P/E/G ratio of 3.08 and a beta of 0.92. The company’s 50-day moving average is $360.00 and its 200 day moving average is $352.45. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.20 and a quick ratio of 4.08.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Research Report on RACE

About Ferrari

(Free Report)

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.

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