Callan Family Office LLC bought a new position in shares of Ferrari N.V. (NYSE:RACE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 5,245 shares of the company's stock, valued at approximately $1,953,000.
A number of other hedge funds also recently bought and sold shares of RACE. HighTower Advisors LLC boosted its stake in Ferrari by 94.4% during the 4th quarter. HighTower Advisors LLC now owns 25,068 shares of the company's stock valued at $9,284,000 after purchasing an additional 12,175 shares during the period. Deutsche Bank AG increased its position in Ferrari by 3.9% in the 4th 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% in the 4th 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. USS Investment Management Ltd increased its position in Ferrari by 902.0% in the 1st quarter. USS Investment Management Ltd now owns 229,353 shares of the company's stock worth $76,588,000 after buying an additional 206,463 shares during the period. Finally, Biglari Sardar lifted its holdings in shares of Ferrari by 49.8% during the first quarter. Biglari Sardar now owns 49,600 shares of the company's stock worth $16,787,000 after buying an additional 16,500 shares during the last quarter.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Morgan Stanley reissued an "overweight" rating and issued a $442.00 price objective on shares of Ferrari in a research report on Friday, July 31st. Citigroup reiterated a "neutral" rating on shares of Ferrari in a research note on Monday, August 3rd. Needham & Company LLC raised shares of Ferrari to a "neutral" rating in a report on Friday, July 31st. Sanford C. Bernstein increased their price target on shares of Ferrari from $402.00 to $460.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Finally, Evercore restated an "outperform" rating and issued a $485.00 price target on shares of Ferrari in a research report on Friday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $477.15.
Check Out Our Latest Analysis on Ferrari
Ferrari Trading Down 0.0%
Ferrari stock opened at $436.38 on Monday. The business has a 50 day moving average price of $384.67 and a two-hundred day moving average price of $360.39. The company has a quick ratio of 3.70, a current ratio of 4.85 and a debt-to-equity ratio of 0.86. Ferrari N.V. has a 12 month low of $312.51 and a 12 month high of $504.49. The stock has a market cap of $102.09 billion, a price-to-earnings ratio of 40.51, a price-to-earnings-growth ratio of 3.75 and a beta of 0.91.
Ferrari (NYSE:RACE - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.16. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.14 billion. Ferrari had a return on equity of 42.83% and a net margin of 22.29%.Ferrari's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.38 EPS. As a group, equities analysts forecast that Ferrari N.V. will post 11.18 EPS for the current year.
Ferrari Profile
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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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