LGT Fund Management Co Ltd. Makes New Investment in Ferrari N.V. (NYSE:RACE)

Key Points

• LGT Fund Management Co Ltd. acquired 1,685 shares of Ferrari N.V., valued at approximately $721,000, during the first quarter.
• Analyst ratings show a divided perspective, with seven buy ratings, one sell rating, and an average price target of $526.25 for Ferrari's stock.
• Ferrari's recent earnings report revealed a year-over-year revenue increase of 4.4% and earnings per share of $2.70, exceeding analyst expectations.

LGT Fund Management Co Ltd. bought a new stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 1,685 shares of the company's stock, valued at approximately $721,000.

Other large investors have also recently bought and sold shares of the company. Sound View Wealth Advisors Group LLC increased its position in shares of Ferrari by 1.0% during the 1st quarter. Sound View Wealth Advisors Group LLC now owns 2,198 shares of the company's stock worth $940,000 after purchasing an additional 21 shares in the last quarter. Garde Capital Inc. lifted its holdings in Ferrari by 5.0% during the 4th quarter. Garde Capital Inc. now owns 525 shares of the company's stock valued at $223,000 after purchasing an additional 25 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in Ferrari by 3.9% during the 1st quarter. Rehmann Capital Advisory Group now owns 697 shares of the company's stock valued at $299,000 after purchasing an additional 26 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Ferrari by 7.9% during the 1st quarter. Fifth Third Bancorp now owns 424 shares of the company's stock valued at $181,000 after purchasing an additional 31 shares during the last quarter. Finally, Wealth Alliance LLC lifted its holdings in Ferrari by 2.5% during the 1st quarter. Wealth Alliance LLC now owns 1,254 shares of the company's stock valued at $537,000 after purchasing an additional 31 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RACE shares. Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a report on Monday, August 4th. Wall Street Zen lowered shares of Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Citigroup reissued a "sell" rating on shares of Ferrari in a report on Monday. Cfra Research lowered shares of Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. Finally, UBS Group raised their target price on shares of Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $526.25.

Ferrari Stock Performance

RACE stock traded down $4.01 during midday trading on Friday, reaching $460.42. 314,075 shares of the company were exchanged, compared to its average volume of 429,697. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. The business has a 50-day moving average price of $478.28 and a two-hundred day moving average price of $465.62. Ferrari N.V. has a one year low of $391.54 and a one year high of $519.10. The firm has a market capitalization of $111.60 billion, a price-to-earnings ratio of 47.52, a price-to-earnings-growth ratio of 4.88 and a beta of 1.09.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.70 EPS for the quarter, topping analysts' consensus estimates of $2.57 by $0.13. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The firm had revenue of $2.12 billion during the quarter, compared to analysts' expectations of $2.05 billion. During the same period in the previous year, the business posted $2.29 earnings per share. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. Equities research analysts forecast that Ferrari N.V. will post 9.22 EPS 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.