Flossbach Von Storch SE Acquires New Position in Ferrari N.V. $RACE

Flossbach Von Storch SE purchased a new position in shares of Ferrari N.V. (NYSE:RACE – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 62,056 shares of the company’s stock, valued at approximately $22,990,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. HighTower Advisors LLC raised its position in shares of Ferrari by 94.4% during the 4th quarter. HighTower Advisors LLC now owns 25,068 shares of the company’s stock worth $9,284,000 after acquiring an additional 12,175 shares in the last quarter. Deutsche Bank AG increased its position in Ferrari by 3.9% during the fourth quarter. Deutsche Bank AG now owns 973,583 shares of the company’s stock worth $359,797,000 after buying an additional 36,670 shares during the period. Vanguard Group Inc. increased its position in Ferrari by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company’s stock worth $1,937,388,000 after buying an additional 58,506 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Ferrari by 716.8% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,487 shares of the company’s stock valued at $3,136,000 after purchasing an additional 7,448 shares during the period. Finally, USS Investment Management Ltd raised its holdings in shares of Ferrari by 902.0% in the first quarter. USS Investment Management Ltd now owns 229,353 shares of the company’s stock valued at $76,588,000 after buying an additional 206,463 shares during the last quarter.

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Ferrari Stock Performance

Shares of RACE stock opened at $425.14 on Thursday. The company has a market cap of $99.46 billion, a price-to-earnings ratio of 39.47, a price-to-earnings-growth ratio of 3.55 and a beta of 0.91. The stock has a 50 day simple moving average of $381.80 and a 200-day simple moving average of $359.01. Ferrari N.V. has a 12-month low of $312.51 and a 12-month high of $504.49. The company has a current ratio of 4.85, a quick ratio of 3.70 and a debt-to-equity ratio of 0.86.

Ferrari (NYSE:RACE – Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.16. Ferrari had a return on equity of 42.83% and a net margin of 22.29%.The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the business earned $2.38 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities analysts forecast that Ferrari N.V. will post 11.18 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RACE shares. Needham & Company LLC raised Ferrari to a “neutral” rating in a report on Friday, July 31st. UBS Group decreased their price objective on Ferrari from $497.00 to $490.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a research note on Wednesday, July 8th. Morgan Stanley reissued an “overweight” rating and issued a $442.00 target price on shares of Ferrari in a report on Friday, July 31st. Finally, Evercore restated an “outperform” rating and set a $485.00 price target on shares of Ferrari in a research note on Friday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $477.15.

Check Out Our Latest Analysis on RACE

Ferrari Profile

(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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