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Ferrari N.V. $RACE Shares Newly Bought by First Nebraska Trust Co

Ferrari logo with Consumer Discretionary background
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Key Points

  • First Nebraska Trust Co. initiated a Ferrari position, buying 3,600 shares in the third quarter valued at approximately $1.41 million.
  • Analysts’ consensus rating was “Moderate Buy”, with an average price target of $456.71; 15 analysts rated the stock Buy or Strong Buy and eight rated it Hold.
  • Ferrari reported quarterly EPS of $2.76, beating estimates of $2.66, while revenue rose 7.4% year over year to $2.15 billion.
  • MarketBeat previews top five stocks to own in December.

First Nebraska Trust Co purchased a new position in Ferrari N.V. (NYSE:RACE - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,600 shares of the company's stock, valued at approximately $1,414,000.

Other large investors also recently bought and sold shares of the company. Amundi boosted its holdings in Ferrari by 3.4% in the second quarter. Amundi now owns 3,060,265 shares of the company's stock worth $1,139,306,000 after purchasing an additional 101,906 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Ferrari by 8.4% during the 1st quarter. Bank of New York Mellon Corp now owns 2,808,855 shares of the company's stock valued at $950,657,000 after buying an additional 218,830 shares during the last quarter. Deutsche Bank AG purchased a new position in shares of Ferrari in the 2nd quarter worth $413,209,000. The Manufacturers Life Insurance Company purchased a new position in shares of Ferrari in the 2nd quarter worth $388,816,000. Finally, Ninety One UK Ltd boosted its stake in shares of Ferrari by 12.3% in the 3rd quarter. Ninety One UK Ltd now owns 941,574 shares of the company's stock worth $370,470,000 after buying an additional 103,264 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RACE. Wolfe Research started coverage on Ferrari in a research report on Tuesday, July 7th. They issued an "outperform" rating on the stock. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Ferrari in a research report on Tuesday, September 29th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Ferrari in a research note on Tuesday, September 29th. Evercore reaffirmed an "outperform" rating and set a $485.00 target price on shares of Ferrari in a report on Friday, July 31st. Finally, UBS Group decreased their price target on shares of Ferrari from $490.00 to $450.00 and set a "buy" rating on the stock in a research report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Ferrari has an average rating of "Moderate Buy" and a consensus price target of $456.71.

Get Our Latest Stock Report on RACE

Ferrari Stock Up 3.0%

NYSE RACE opened at $415.02 on Wednesday. The stock's 50-day moving average price is $402.54 and its 200-day moving average price is $369.92. The company has a market capitalization of $97.09 billion, a P/E ratio of 38.53, a price-to-earnings-growth ratio of 3.62 and a beta of 0.89. 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 52 week low of $312.51 and a 52 week high of $437.15.

Ferrari (NYSE:RACE - Get Free Report) last released its earnings results on Tuesday, November 3rd. The company reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.66 by $0.10. Ferrari had a net margin of 22.29% and a return on equity of 42.83%. The company had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter last year, the business earned $2.14 EPS. The firm's revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts predict that Ferrari N.V. will post 11.10 earnings per share for the current year.

Key Ferrari News

Here are the key news stories impacting Ferrari this week:

Ferrari Profile

(Free Report)

Ferrari N.V. is an Italian luxury automotive company that designs, develops, manufactures and sells high-performance sports cars. Its vehicle portfolio includes grand touring models, mid- and rear-engine sports cars, limited-edition special series and high-performance supercars. Ferrari also offers extensive personalization options, allowing customers to tailor vehicle specifications, materials and finishes.

The company traces its origins to 1939, when Enzo Ferrari established Auto Avio Costruzioni, and it produced its first Ferrari-badged car in 1947.

Read More

Institutional Ownership by Quarter for Ferrari (NYSE:RACE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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