Segment Wealth Management LLC purchased 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 13F filing with the Securities and Exchange Commission. The firm purchased 5,524 shares of the company's stock, valued at approximately $2,364,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RACE. Park Square Financial Group LLC acquired a new position in shares of Ferrari in the 4th quarter valued at $32,000. Webster Bank N. A. purchased a new position in Ferrari during the 1st quarter worth $43,000. Kestra Investment Management LLC acquired a new position in Ferrari in the fourth quarter valued at $45,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Ferrari in the first quarter valued at $48,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of Ferrari in the fourth quarter valued at about $53,000.
Ferrari Price Performance
Shares of RACE opened at $460.80 on Friday. The company has a current ratio of 5.09, a quick ratio of 4.04 and a debt-to-equity ratio of 0.93. The stock's 50 day moving average is $469.76 and its two-hundred day moving average is $452.91. Ferrari N.V. has a twelve month low of $391.54 and a twelve month high of $509.13. The firm has a market capitalization of $111.69 billion, a PE ratio of 48.76, a P/E/G ratio of 5.35 and a beta of 1.10.
Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.36 by $0.06. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.82 billion. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. The company's quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the firm earned $1.95 EPS. Research analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on RACE shares. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Wall Street Zen cut Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. JPMorgan Chase & Co. dropped their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Finally, UBS Group increased their price target on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Ferrari presently has a consensus rating of "Moderate Buy" and a consensus target price of $526.25.
View Our Latest Stock Report on Ferrari
About Ferrari
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding RACE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferrari N.V. (NYSE:RACE - Free Report).
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