Junto Capital Management LP Acquires Shares of 68,903 Ferrari N.V. $RACE

Key Points

• Junto Capital Management acquired 68,903 Ferrari shares during the second quarter, valued at approximately $25.65 million. Several other hedge funds also initiated or increased positions.
• Ferrari reported quarterly EPS of $2.99, beating estimates of $2.83, while revenue rose 8.4% year over year to $2.21 billion. The company posted a 22.29% net margin and 42.83% return on equity.
• Ferrari shares were trading at $402.34, down 0.9%, while analysts maintained a consensus “Moderate Buy” rating with an average price target of $477.15.

Junto Capital Management LP acquired a new stake in Ferrari N.V. (NYSE:RACE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 68,903 shares of the company's stock, valued at approximately $25,652,000.

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

Ferrari Trading Down 0.9%

Shares of NYSE:RACE opened at $402.34 on Thursday. Ferrari N.V. has a 1 year low of $312.51 and a 1 year high of $504.49. The firm has a market capitalization of $94.13 billion, a price-to-earnings ratio of 37.35, a price-to-earnings-growth ratio of 3.49 and a beta of 0.92. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.85 and a quick ratio of 3.70. The business's 50 day moving average price is $398.47 and its 200-day moving average price is $365.38.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $2.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.83 by $0.16. The firm had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.14 billion. Ferrari had a net margin of 22.29% and a return on equity of 42.83%. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.38 EPS. On average, equities research analysts forecast that Ferrari N.V. will post 11.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RACE has been the subject of several analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Ferrari in a research note on Wednesday, July 8th. Evercore restated an "outperform" rating and set a $485.00 price target on shares of Ferrari in a research report on Friday, July 31st. Morgan Stanley reaffirmed an "overweight" rating and issued a $442.00 price objective on shares of Ferrari in a report on Friday, July 31st. UBS Group decreased their price objective 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. Finally, Needham & Company LLC raised shares of Ferrari to a "neutral" rating in a research note on Friday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $477.15.

About Ferrari

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.

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.