Nan Shan Life Insurance Co. Ltd. Invests $8.54 Million in Ferrari N.V. $RACE

Key Points

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Nan Shan Life Insurance Co. Ltd. bought a new position in shares of Ferrari N.V. (NYSE:RACE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 20,166 shares of the company's stock, valued at approximately $8,539,000.

A number of other large investors also recently made changes to their positions in the company. Sound View Wealth Advisors Group LLC grew its position in Ferrari by 1.0% during the first quarter. Sound View Wealth Advisors Group LLC now owns 2,198 shares of the company's stock worth $940,000 after buying an additional 21 shares in the last quarter. Garde Capital Inc. grew its position in Ferrari by 5.0% during the fourth quarter. Garde Capital Inc. now owns 525 shares of the company's stock worth $223,000 after buying an additional 25 shares in the last quarter. Rehmann Capital Advisory Group grew its position in Ferrari by 3.9% during the first quarter. Rehmann Capital Advisory Group now owns 697 shares of the company's stock worth $299,000 after buying an additional 26 shares in the last quarter. Aviso Financial Inc. grew its position in Ferrari by 1.1% during the first quarter. Aviso Financial Inc. now owns 2,835 shares of the company's stock worth $1,213,000 after buying an additional 30 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Ferrari by 7.9% during the first quarter. Fifth Third Bancorp now owns 424 shares of the company's stock worth $181,000 after buying an additional 31 shares in the last quarter.

Ferrari Trading Up 0.7%

Shares of RACE stock opened at $463.56 on Tuesday. The stock's fifty day moving average price is $477.52 and its two-hundred day moving average price is $466.55. The company has a market cap of $112.36 billion, a PE ratio of 47.84, a P/E/G 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 the consensus estimate of $2.57 by $0.13. Ferrari had a return on equity of 45.41% and a net margin of 22.95%. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter last year, the business posted $2.29 EPS. Ferrari's revenue for the quarter was up 4.4% on a year-over-year basis. Equities analysts predict that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Analysts Set New Price Targets

RACE has been the topic of a number of analyst reports. Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Citigroup reissued a "sell" rating on shares of Ferrari in a research report on Monday, August 11th. Wall Street Zen downgraded Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Cfra Research downgraded 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 Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Ferrari currently has a consensus rating of "Moderate Buy" and a consensus target price of $526.25.

Ferrari Company Profile

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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