Ferrari N.V. $RACE Holdings Raised by Andra AP fonden

Key Points

• Andra AP fonden increased its Ferrari holdings by 162% in the second quarter, acquiring 3,027 additional shares for a total position of 4,896 shares valued at approximately $1.82 million.
• Analyst sentiment remains positive, with Ferrari holding a consensus “Moderate Buy” rating and an average price target of $478.79.
• Ferrari exceeded quarterly expectations, reporting $2.99 in EPS and $2.21 billion in revenue, with revenue rising 8.4% year over year.

Andra AP fonden grew its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 162.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,896 shares of the company's stock after acquiring an additional 3,027 shares during the period. Andra AP fonden's holdings in Ferrari were worth $1,823,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Anchor Investment Management LLC boosted its position in shares of Ferrari by 1,625.0% in the second quarter. Anchor Investment Management LLC now owns 69 shares of the company's stock valued at $26,000 after acquiring an additional 65 shares during the period. Fideuram Asset Management Ireland dac acquired a new position in Ferrari during the fourth quarter worth $29,000. Bellevue Asset Management LLC bought a new stake in Ferrari during the first quarter worth about $34,000. Dunhill Financial LLC bought a new stake in Ferrari during the second quarter worth about $38,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Ferrari during the second quarter worth approximately $38,000.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RACE shares. Wolfe Research began coverage on Ferrari in a research note on Tuesday, July 7th. They issued an "outperform" rating on the stock. Citigroup reiterated a "neutral" rating on shares of Ferrari in a research report on Monday, August 3rd. Weiss Ratings reissued a "hold (c)" rating on shares of Ferrari in a research note on Wednesday, July 8th. Evercore reiterated an "outperform" rating and issued a $485.00 price objective on shares of Ferrari in a research report on Friday, July 31st. Finally, UBS Group reiterated a "buy" rating on shares of Ferrari in a research report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Ferrari currently has a consensus rating of "Moderate Buy" and an average price target of $478.79.

Ferrari Stock Down 0.0%

Shares of RACE stock opened at $413.21 on Thursday. The company has a market capitalization of $96.67 billion, a price-to-earnings ratio of 38.36, a P/E/G ratio of 3.54 and a beta of 0.92. The firm has a fifty day moving average of $404.84 and a 200-day moving average of $368.47. Ferrari N.V. has a 12-month low of $312.51 and a 12-month high of $504.49. 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 (NYSE:RACE - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The company reported $2.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.83 by $0.16. Ferrari had a return on equity of 42.83% and a net margin of 22.29%.The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the company earned $2.38 earnings per share. Ferrari's quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts predict that Ferrari N.V. will post 11.23 earnings per share for the current fiscal year.

Ferrari Company Profile

Ferrari N.V. is an Italian luxury automotive company headquartered in Maranello, Italy. The company designs, develops, manufactures and sells high-performance sports cars, grand touring vehicles, supercars and limited-edition models under the Ferrari brand.

Ferrari's business includes vehicle personalization, after-sales services, replacement parts and accessories, as well as branded merchandise, licensing and retail activities. The company also supports its brand through customer experiences, events and the Ferrari racing business, including its long-standing participation in Formula One.

Ferrari traces its origins to Enzo Ferrari, who established Auto Avio Costruzioni in 1939 before producing its first Ferrari-badged car in 1947.

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