Ferrari N.V. $RACE Stock Position Reduced by WCM Investment Management LLC

WCM Investment Management LLC decreased its position in Ferrari N.V. (NYSE:RACE) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 433,609 shares of the company’s stock after selling 19,579 shares during the quarter. WCM Investment Management LLC’s holdings in Ferrari were worth $209,017,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in RACE. Mather Group LLC. bought a new stake in Ferrari during the third quarter valued at $27,000. Root Financial Partners LLC acquired a new position in Ferrari during the 3rd quarter valued at approximately $28,000. Newbridge Financial Services Group Inc. bought a new position in Ferrari during the 2nd quarter worth $30,000. Virtus Advisers LLC acquired a new stake in Ferrari in the second quarter worth $34,000. Finally, GAMMA Investing LLC increased its position in Ferrari by 41.2% in the second quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock worth $35,000 after buying an additional 21 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RACE. UBS Group lowered their price target on shares of Ferrari from $563.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, January 9th. The Goldman Sachs Group raised Ferrari to a “strong-buy” rating in a report on Monday, November 24th. Loop Capital set a $481.67 target price on Ferrari in a research report on Thursday, December 4th. Barclays set a $420.00 price target on Ferrari and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. Finally, Zacks Research cut shares of Ferrari from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $480.67.

Ferrari Stock Performance

RACE stock opened at $336.57 on Tuesday. The stock has a market cap of $81.58 billion, a P/E ratio of 34.00, a P/E/G ratio of 3.62 and a beta of 0.99. Ferrari N.V. has a 52 week low of $331.01 and a 52 week high of $519.10. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.78 and a current ratio of 4.90. The firm has a 50 day simple moving average of $366.42 and a 200 day simple moving average of $420.45.

Ferrari (NYSE:RACE) last posted its earnings results on Tuesday, November 4th. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.15. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.94 billion. Ferrari had a return on equity of 44.20% and a net margin of 22.65%. Research analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current fiscal 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.