First Nebraska Trust Co Buys New Position in Ferrari N.V. $RACE

Key Points

• First Nebraska Trust Co. acquired 3,600 Ferrari shares during the second quarter, valued at approximately $1.34 million. Several other institutional investors also recently initiated or expanded positions.
• Ferrari reported quarterly EPS of $2.99, beating estimates of $2.83, while revenue reached $2.21 billion, up 8.4% year over year. The company posted a 22.29% net margin and 42.83% return on equity.
• RACE shares opened at $436.38, below the analyst consensus price target of $477.15. Wall Street’s overall rating is “Moderate Buy,” with three Strong Buy, ten Buy, and six Hold recommendations.

First Nebraska Trust Co purchased a new position in shares of Ferrari N.V. (NYSE:RACE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,600 shares of the company's stock, valued at approximately $1,340,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fideuram Asset Management Ireland dac acquired a new position in shares of Ferrari during the fourth quarter worth $29,000. Entrust Financial LLC acquired a new stake in Ferrari during the 4th quarter valued at $33,000. Bamco Inc. NY increased its stake in Ferrari by 790.9% during the 4th quarter. Bamco Inc. NY now owns 98 shares of the company's stock worth $36,000 after buying an additional 87 shares during the period. Bellevue Asset Management LLC purchased a new stake in Ferrari during the 1st quarter worth $34,000. Finally, Dunhill Financial LLC purchased a new stake in Ferrari during the 2nd quarter worth $38,000.

Ferrari Stock Performance

RACE stock opened at $436.38 on Friday. The stock's 50 day simple moving average is $384.67 and its 200 day simple moving average is $360.22. Ferrari N.V. has a 12-month low of $312.51 and a 12-month high of $504.49. The firm has a market cap of $102.09 billion, a P/E ratio of 40.51, a P/E/G ratio of 3.75 and a beta of 0.91. The company has a current ratio of 4.85, a quick ratio of 3.70 and a debt-to-equity ratio of 0.86.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The company reported $2.99 EPS for the quarter, topping analysts' consensus estimates of $2.83 by $0.16. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.14 billion. Ferrari had a net margin of 22.29% and a return on equity of 42.83%. The firm's revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.38 earnings per share. As a group, equities research analysts predict that Ferrari N.V. will post 11.18 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RACE. UBS Group decreased their price target on shares of Ferrari from $497.00 to $490.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Morgan Stanley reiterated an "overweight" rating and set a $442.00 price objective on shares of Ferrari in a research note on Friday, July 31st. Sanford C. Bernstein raised their price objective on shares of Ferrari from $402.00 to $460.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Needham & Company LLC raised shares of Ferrari to a "neutral" rating in a research report on Friday, July 31st. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Ferrari in a research note on Wednesday, July 8th. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $477.15.

Ferrari Profile

Ferrari N.V. NYSE: RACE is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company's core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.

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