Ferrari N.V. $RACE Shares Purchased by Qtron Investments LLC

Key Points

• Qtron Investments LLC increased its holdings in Ferrari N.V. by 43.6% in Q1, acquiring an additional 950 shares to reach a total of 3,130 shares valued at approximately $1,326,000.
• Ferrari reported earnings of $2.70 per share for the latest quarter, surpassing analyst expectations, with revenue of $2.12 billion, a 4.4% increase year-over-year.
• Analysts' ratings on Ferrari have varied, with one sell, two hold, and seven buy ratings, resulting in an average target price of $526.25, indicating a "Moderate Buy" consensus.

Qtron Investments LLC lifted its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 43.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,130 shares of the company's stock after purchasing an additional 950 shares during the quarter. Qtron Investments LLC's holdings in Ferrari were worth $1,326,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Aviso Financial Inc. boosted its position in shares of Ferrari by 1.1% in the 1st quarter. Aviso Financial Inc. now owns 2,835 shares of the company's stock worth $1,213,000 after purchasing an additional 30 shares in the last quarter. Northern Trust Corp boosted its position in shares of Ferrari by 9.6% in the 1st quarter. Northern Trust Corp now owns 350,905 shares of the company's stock worth $150,145,000 after purchasing an additional 30,815 shares in the last quarter. Brooklyn Investment Group boosted its position in shares of Ferrari by 381.3% in the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company's stock worth $33,000 after purchasing an additional 61 shares in the last quarter. Mill Creek Capital Advisors LLC acquired a new stake in shares of Ferrari in the 1st quarter worth $216,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Ferrari in the 1st quarter worth $919,000.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. UBS Group raised 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. Royal Bank Of Canada restated an "outperform" rating on shares of Ferrari in a research note on Monday, August 4th. Cfra Research lowered Ferrari from a "hold" rating to a "moderate sell" rating in a research note on Thursday, July 31st. Finally, Citigroup restated a "sell" rating on shares of Ferrari in a research note on Monday, August 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $526.25.

Ferrari Stock Performance

NYSE RACE opened at $460.42 on Monday. The stock has a 50-day simple moving average of $477.83 and a two-hundred day simple moving average of $466.31. The firm has a market capitalization of $111.60 billion, a P/E ratio of 47.52, a PEG ratio of 4.98 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 $519.10. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.94 and a current ratio of 5.09.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, beating analysts' consensus estimates of $2.57 by $0.13. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.05 billion. Ferrari had a return on equity of 45.41% and a net margin of 22.95%. The company's revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $2.29 EPS. On average, equities 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.

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