NorthRock Partners LLC Reduces Position in Ferrari N.V. (NYSE:RACE)

NorthRock Partners LLC decreased its stake in shares of Ferrari N.V. (NYSE:RACE) by 10.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 612 shares of the company’s stock after selling 68 shares during the period. NorthRock Partners LLC’s holdings in Ferrari were worth $262,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bridgewater Advisors Inc. purchased a new position in Ferrari during the first quarter worth $492,000. Zurich Insurance Group Ltd FI grew its position in shares of Ferrari by 13.2% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 79,796 shares of the company’s stock valued at $34,042,000 after purchasing an additional 9,274 shares during the period. Russell Investments Group Ltd. grew its position in shares of Ferrari by 2.6% in the fourth quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company’s stock valued at $54,847,000 after purchasing an additional 3,277 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Ferrari by 2.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 85,614 shares of the company’s stock valued at $36,271,000 after purchasing an additional 2,144 shares during the period. Finally, National Bank of Canada FI grew its position in shares of Ferrari by 144.3% in the fourth quarter. National Bank of Canada FI now owns 5,638 shares of the company’s stock valued at $2,400,000 after purchasing an additional 3,330 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on RACE shares. UBS Group lifted their price objective on Ferrari from $520.00 to $560.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Wall Street Zen downgraded Ferrari from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ferrari presently has an average rating of “Moderate Buy” and an average target price of $526.25.

Ferrari Price Performance

Shares of Ferrari stock opened at $436.54 on Friday. Ferrari N.V. has a twelve month low of $391.54 and a twelve month high of $519.10. The stock has a market capitalization of $105.81 billion, a P/E ratio of 45.05, a PEG ratio of 4.86 and a beta of 1.09. The company has a current ratio of 5.09, a quick ratio of 4.04 and a debt-to-equity ratio of 0.93. The business’s fifty day moving average price is $484.02 and its 200 day moving average price is $464.81.

Ferrari (NYSE:RACE) last issued its earnings results on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.13. Ferrari had a return on equity of 46.22% and a net margin of 22.95%. The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the firm earned $2.29 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, research analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current year.

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.