Vise Technologies Inc. purchased a new stake in shares of Ferrari N.V. (NYSE:RACE – Free Report) during the 2nd quarter, Holdings Channel reports. The fund purchased 1,391 shares of the company’s stock, valued at approximately $518,000.
Several other hedge funds have also added to or reduced their stakes in the company. Fideuram Asset Management Ireland dac acquired a new stake in Ferrari in the fourth quarter worth about $29,000. Entrust Financial LLC acquired a new position in Ferrari during the 4th quarter valued at about $33,000. Bamco Inc. NY boosted its stake in shares of Ferrari by 790.9% in the 4th quarter. Bamco Inc. NY now owns 98 shares of the company’s stock valued at $36,000 after purchasing an additional 87 shares during the last quarter. Bellevue Asset Management LLC bought a new position in shares of Ferrari in the 1st quarter valued at about $34,000. Finally, Dunhill Financial LLC acquired a new stake in shares of Ferrari during the 2nd quarter worth approximately $38,000.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. Citigroup reissued a “neutral” rating on shares of Ferrari in a research note on Monday, August 3rd. UBS Group dropped their target price on shares of Ferrari from $497.00 to $490.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Morgan Stanley reissued an “overweight” rating and issued a $442.00 price target on shares of Ferrari in a research note on Friday, July 31st. Wolfe Research assumed coverage on Ferrari in a research report on Tuesday, July 7th. They issued an “outperform” rating on the stock. Finally, Evercore reaffirmed an “outperform” rating and set a $485.00 price objective on shares of Ferrari in a research note on Friday, July 31st. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $477.15.
Ferrari Stock Down 2.8%
Ferrari stock opened at $424.31 on Tuesday. The company’s 50 day simple moving average is $385.77 and its 200 day simple moving average is $361.05. Ferrari N.V. has a fifty-two week low of $312.51 and a fifty-two week high of $504.49. The firm has a market capitalization of $99.27 billion, a price-to-earnings ratio of 39.39, a PEG ratio of 3.75 and a beta of 0.91. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.85 and a quick ratio of 3.70.
Ferrari (NYSE:RACE – Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported $2.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.16. Ferrari had a net margin of 22.29% and a return on equity of 42.83%. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the company earned $2.38 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Ferrari N.V. will post 11.18 EPS for the current year.
Ferrari 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.
Read More
- Five stocks we like better than Ferrari
- Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters
- Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain
- Snowflake Could Be Headed for New Highs Despite Insider Selling
- MongoDB Is Surging—And the Next Catalyst Is Almost Here
Want to see what other hedge funds are holding RACE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferrari N.V. (NYSE:RACE – Free Report).
Receive News & Ratings for Ferrari Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferrari and related companies with MarketBeat.com's FREE daily email newsletter.
