Edmond DE Rothschild Holding S.A. Purchases Shares of 42,077 Ferrari N.V. $RACE

Edmond DE Rothschild Holding S.A. acquired a new position in shares of Ferrari N.V. (NYSE:RACE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,077 shares of the company’s stock, valued at approximately $15,586,000.

Other large investors have also recently made changes to their positions in the company. Fideuram Asset Management Ireland dac bought a new stake in shares of Ferrari during the fourth quarter worth about $29,000. Entrust Financial LLC bought a new position in Ferrari in the 4th quarter valued at about $33,000. Bamco Inc. NY lifted its position in 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 acquiring an additional 87 shares in the last quarter. Bellevue Asset Management LLC bought a new position in Ferrari in the 1st quarter valued at about $34,000. Finally, Dunhill Financial LLC acquired a new position in Ferrari during the 2nd quarter valued at about $38,000.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RACE. Sanford C. Bernstein boosted their price objective on Ferrari from $402.00 to $460.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Wolfe Research assumed coverage on Ferrari in a research report on Tuesday, July 7th. They set an “outperform” rating on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $442.00 target price on shares of Ferrari in a research report on Friday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a research report on Wednesday, July 8th. Finally, UBS Group lowered their price target on Ferrari from $497.00 to $490.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ferrari has a consensus rating of “Moderate Buy” and a consensus price target of $477.15.

Ferrari Price Performance

RACE opened at $425.14 on Thursday. 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 50-day moving average of $381.80 and a 200 day moving average of $359.01. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.70 and a current ratio of 4.85. The firm has a market cap of $99.46 billion, a P/E ratio of 39.47, a PEG ratio of 3.55 and a beta of 0.91.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Friday, July 31st. The company reported $2.99 EPS for the quarter, topping the consensus estimate of $2.83 by $0.16. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.14 billion. Ferrari had a net margin of 22.29% and a return on equity of 42.83%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.38 earnings per share. On average, research analysts expect that Ferrari N.V. will post 11.18 EPS for the current year.

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.