Evelyn Partners Investment Management LLP increased its position in Ferrari N.V. (NYSE:RACE – Free Report) by 3.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,528 shares of the company’s stock after acquiring an additional 2,156 shares during the period. Evelyn Partners Investment Management LLP’s holdings in Ferrari were worth $24,904,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Groupama Asset Managment grew its holdings in shares of Ferrari by 5.7% in the third quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock worth $8,244,189,000 after acquiring an additional 916,821 shares during the period. Vanguard Group Inc. grew its holdings in shares of Ferrari by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company’s stock worth $1,937,388,000 after acquiring an additional 58,506 shares during the period. Amundi grew its holdings in shares of Ferrari by 8.0% in the third quarter. Amundi now owns 2,972,368 shares of the company’s stock worth $1,461,008,000 after acquiring an additional 219,909 shares during the period. Morgan Stanley grew its holdings in shares of Ferrari by 43.4% in the fourth quarter. Morgan Stanley now owns 2,546,564 shares of the company’s stock worth $941,109,000 after acquiring an additional 771,039 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in shares of Ferrari by 27.5% in the third quarter. Alliancebernstein L.P. now owns 2,379,261 shares of the company’s stock worth $1,154,465,000 after acquiring an additional 512,703 shares during the period.
Analyst Ratings Changes
Several analysts have issued reports on the company. Sanford C. Bernstein reissued an “outperform” rating on shares of Ferrari in a report on Tuesday, June 2nd. JPMorgan Chase & Co. upped their price target on Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Jefferies Financial Group upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. UBS Group reduced their price target on Ferrari from $555.00 to $483.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Finally, Morgan Stanley set a $420.00 price target on Ferrari in a research report on Monday, February 16th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $469.06.
Ferrari Stock Performance
Shares of RACE opened at $354.77 on Friday. The company has a quick ratio of 4.08, a current ratio of 5.20 and a debt-to-equity ratio of 0.72. The business has a 50-day simple moving average of $345.59 and a two-hundred day simple moving average of $354.15. The stock has a market cap of $83.00 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 3.36 and a beta of 0.93. Ferrari N.V. has a 52 week low of $312.51 and a 52 week high of $519.10.
Ferrari Company Profile
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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