Banque Cantonale Vaudoise Buys Shares of 1,682 Ferrari N.V. (NYSE:RACE)

Key Points

• Banque Cantonale Vaudoise has acquired a new position in Ferrari N.V., purchasing 1,682 shares valued at approximately $712,000 in the first quarter.
• Ferrari reported $2.42 EPS in its latest quarterly earnings, exceeding expectations and showing a 13.0% year-over-year revenue growth.
• Estimates for Ferrari's stock suggest a current consensus target price of $526.25, with analysts rating it as a "Moderate Buy."

Banque Cantonale Vaudoise bought a new stake in Ferrari N.V. (NYSE:RACE - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 1,682 shares of the company's stock, valued at approximately $712,000.

Several other institutional investors also recently bought and sold shares of RACE. LPL Financial LLC grew its position in shares of Ferrari by 1.0% during the first quarter. LPL Financial LLC now owns 44,222 shares of the company's stock worth $18,922,000 after buying an additional 430 shares in the last quarter. Alteri Wealth LLC lifted its stake in Ferrari by 7.7% during the first quarter. Alteri Wealth LLC now owns 1,062 shares of the company's stock worth $454,000 after purchasing an additional 76 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Ferrari by 2.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 85,614 shares of the company's stock worth $36,271,000 after purchasing an additional 2,144 shares during the last quarter. HB Wealth Management LLC lifted its stake in Ferrari by 89.7% during the first quarter. HB Wealth Management LLC now owns 935 shares of the company's stock worth $400,000 after purchasing an additional 442 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in Ferrari by 17.7% during the first quarter. TD Asset Management Inc now owns 411,416 shares of the company's stock worth $175,717,000 after purchasing an additional 61,922 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RACE shares. Cfra Research cut Ferrari from a "hold" rating to a "moderate sell" rating in a research note on Thursday. Wall Street Zen cut Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, UBS Group boosted their target price on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Ferrari presently has an average rating of "Moderate Buy" and an average price target of $526.25.

Ferrari Stock Performance

Shares of Ferrari stock traded down $6.85 during trading hours on Friday, hitting $436.54. 1,677,924 shares of the company were exchanged, compared to its average volume of 382,362. Ferrari N.V. has a 1 year low of $391.54 and a 1 year high of $519.10. The company has a current ratio of 5.09, a quick ratio of 4.04 and a debt-to-equity ratio of 0.93. The business has a 50-day moving average of $484.02 and a 200-day moving average of $465.04. The stock has a market capitalization of $105.81 billion, a price-to-earnings ratio of 45.05, a P/E/G ratio of 4.78 and a beta of 1.09.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.57 by $0.13. Ferrari had a return on equity of 46.22% and a net margin of 22.95%. The business had revenue of $2.12 billion during the quarter, compared to analysts' expectations of $2.05 billion. During the same quarter in the prior year, the business earned $2.29 earnings per share. The company's quarterly revenue was up 4.4% compared to the same quarter last year. As a group, analysts expect that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Ferrari Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.