Cookson Peirce & Co. Inc. Buys Shares of 2,325 Ferrari N.V. (NYSE:RACE)

Key Points

• Cookson Peirce & Co. Inc. acquired a new stake in Ferrari N.V. by purchasing 2,325 shares valued at approximately $995,000 during the first quarter.
• Ferrari's stock experienced a 3.0% increase, opening at $464.68, and its market capitalization stands at $112.63 billion.
• The company reported earnings of $2.70 per share for the last quarter, exceeding estimates and reflecting a 4.4% year-over-year revenue growth.

Cookson Peirce & Co. Inc. bought a new stake in Ferrari N.V. (NYSE:RACE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,325 shares of the company's stock, valued at approximately $995,000.

Other institutional investors have also recently bought and sold shares of the company. GW&K Investment Management LLC raised its stake in shares of Ferrari by 288.9% during the 1st quarter. GW&K Investment Management LLC now owns 70 shares of the company's stock worth $30,000 after purchasing an additional 52 shares in the last quarter. Park Square Financial Group LLC bought a new stake in shares of Ferrari during the 4th quarter worth approximately $32,000. Alpine Bank Wealth Management bought a new stake in shares of Ferrari during the 1st quarter worth approximately $33,000. Webster Bank N. A. bought a new stake in shares of Ferrari during the 1st quarter worth approximately $43,000. Finally, Centerpoint Advisors LLC bought a new stake in shares of Ferrari during the 1st quarter worth approximately $43,000.

Ferrari Stock Up 3.0%

RACE stock opened at $464.68 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. The stock has a market capitalization of $112.63 billion, a price-to-earnings ratio of 47.96, a PEG ratio of 4.88 and a beta of 1.09. The business's fifty day moving average price is $478.28 and its two-hundred day moving average price is $465.62. Ferrari N.V. has a fifty-two week low of $391.54 and a fifty-two week high of $519.10.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.13. The firm had revenue of $2.12 billion for the quarter, compared to analysts' expectations of $2.05 billion. Ferrari had a return on equity of 45.41% and a net margin of 22.95%. The company's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.29 EPS. On average, equities analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RACE. UBS Group upped 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. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ferrari in a research note on Monday, August 4th. Citigroup reiterated a "sell" rating on shares of Ferrari in a research note on Monday. Cfra Research lowered Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. Finally, Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Ferrari currently has a consensus rating of "Moderate Buy" and an average target price of $526.25.

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.

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