Segall Bryant & Hamill LLC Takes $537,000 Position in Ferrari N.V. $RACE

Segall Bryant & Hamill LLC purchased a new position in Ferrari N.V. (NYSE:RACE) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,577 shares of the company’s stock, valued at approximately $537,000.

A number of other large investors also recently modified their holdings of RACE. Fideuram Asset Management Ireland dac bought a new position in shares of Ferrari in the fourth quarter worth $29,000. Entrust Financial LLC bought a new stake in Ferrari during the fourth quarter valued at $33,000. Bellevue Asset Management LLC purchased a new position in Ferrari during the first quarter worth about $34,000. Bamco Inc. NY grew its position in Ferrari by 790.9% during the fourth quarter. Bamco Inc. NY now owns 98 shares of the company’s stock worth $36,000 after buying an additional 87 shares in the last quarter. Finally, Navalign LLC bought a new position in Ferrari in the 4th quarter worth about $41,000.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ferrari in a report on Wednesday, July 8th. Needham & Company LLC upgraded shares of Ferrari to a “neutral” rating in a research report on Friday, July 31st. Citigroup reaffirmed a “neutral” rating on shares of Ferrari in a research note on Monday. UBS Group dropped their target price 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, Wolfe Research initiated coverage on shares of Ferrari in a research note on Tuesday, July 7th. They issued an “outperform” rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $477.15.

Ferrari Price Performance

Shares of Ferrari stock opened at $407.01 on Friday. The company has a current ratio of 4.85, a quick ratio of 3.70 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $95.22 billion, a PE ratio of 37.79, a price-to-earnings-growth ratio of 3.50 and a beta of 0.91. The business’s 50-day moving average price is $370.31 and its 200-day moving average price is $354.31. Ferrari N.V. has a 12 month low of $312.51 and a 12 month high of $504.49.

About Ferrari

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.