Commerzbank Aktiengesellschaft FI Acquires New Shares in Ferrari N.V. (NYSE:RACE)

Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 87,773 shares of the company's stock, valued at approximately $37,556,000.

Other large investors have also recently bought and sold shares of the company. Park Square Financial Group LLC bought a new stake in Ferrari in the fourth quarter valued at approximately $32,000. Alpine Bank Wealth Management bought a new position in shares of Ferrari during the first quarter worth approximately $33,000. Webster Bank N. A. bought a new position in shares of Ferrari during the first quarter worth approximately $43,000. Cornerstone Planning Group LLC increased its stake in shares of Ferrari by 140.5% during the first quarter. Cornerstone Planning Group LLC now owns 101 shares of the company's stock worth $45,000 after purchasing an additional 59 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Ferrari during the first quarter worth approximately $48,000.

Wall Street Analyst Weigh In

RACE has been the topic of a number of recent research reports. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. JPMorgan Chase & Co. lowered their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. UBS Group raised their price objective on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $526.25.

Ferrari Price Performance

Shares of RACE stock traded down $0.20 during trading hours on Friday, reaching $505.99. The company's stock had a trading volume of 372,300 shares, compared to its average volume of 350,420. The firm's 50 day simple moving average is $483.24 and its 200-day simple moving average is $459.45. The company has a market capitalization of $122.64 billion, a price-to-earnings ratio of 53.54, a PEG ratio of 5.54 and a beta of 1.09. Ferrari N.V. has a fifty-two week low of $391.54 and a fifty-two week high of $510.56. The company has a quick ratio of 4.04, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.82 billion. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. The company's revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.95 EPS. Sell-side analysts forecast that Ferrari N.V. will post 9.22 earnings per share for the current year.

About Ferrari

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.