Fifth Third Bancorp Buys 72 Shares of Ferrari (NYSE:RACE)

Fifth Third Bancorp grew its stake in Ferrari (NYSE:RACEGet Rating) by 25.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 352 shares of the company’s stock after acquiring an additional 72 shares during the quarter. Fifth Third Bancorp’s holdings in Ferrari were worth $65,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. increased its stake in shares of Ferrari by 8.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 4,231 shares of the company’s stock valued at $783,000 after acquiring an additional 321 shares during the last quarter. City State Bank grew its position in shares of Ferrari by 159.1% in the 3rd quarter. City State Bank now owns 285 shares of the company’s stock valued at $54,000 after purchasing an additional 175 shares during the period. Eqis Capital Management Inc. grew its position in shares of Ferrari by 234.3% in the 3rd quarter. Eqis Capital Management Inc. now owns 8,080 shares of the company’s stock valued at $1,495,000 after purchasing an additional 5,663 shares during the period. Stratos Wealth Partners LTD. grew its position in shares of Ferrari by 3.5% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 2,467 shares of the company’s stock valued at $456,000 after purchasing an additional 83 shares during the period. Finally, Whittier Trust Co. grew its position in shares of Ferrari by 35.9% in the 3rd quarter. Whittier Trust Co. now owns 1,755 shares of the company’s stock valued at $325,000 after purchasing an additional 464 shares during the period. 32.21% of the stock is owned by institutional investors.

Ferrari Trading Up 0.0 %

NYSE RACE opened at $235.92 on Friday. The company has a market cap of $43.59 billion, a PE ratio of 43.13, a PEG ratio of 3.28 and a beta of 0.97. The company has a current ratio of 4.47, a quick ratio of 3.74 and a debt-to-equity ratio of 1.21. Ferrari has a 12 month low of $167.45 and a 12 month high of $247.26. The stock has a 50 day moving average of $218.14 and a 200-day moving average of $203.90.

Ferrari (NYSE:RACEGet Rating) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.14 by $0.10. Ferrari had a return on equity of 40.02% and a net margin of 19.00%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.15 billion. On average, equities research analysts anticipate that Ferrari will post 5.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RACE shares. Citigroup upgraded Ferrari from a “sell” rating to a “neutral” rating and set a $230.60 price objective for the company in a research report on Monday, January 9th. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, November 9th. Morgan Stanley reduced their price target on Ferrari from $300.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, November 3rd. HSBC raised Ferrari from a “hold” rating to a “buy” rating in a research report on Thursday, October 27th. Finally, Royal Bank of Canada upped their price target on Ferrari from €261.00 ($280.65) to €265.00 ($284.95) in a research report on Monday, December 12th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Ferrari has an average rating of “Moderate Buy” and an average price target of $241.56.

About Ferrari

(Get Rating)

Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hyper cars; one-off and track cars; and Icona cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

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Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

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