Ieq Capital LLC Buys Shares of 4,974 Ferrari N.V. $RACE

Ieq Capital LLC purchased a new stake in Ferrari N.V. (NYSE:RACE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,974 shares of the company’s stock, valued at approximately $1,852,000.

Other institutional investors also recently modified their holdings of the company. Fideuram Asset Management Ireland dac acquired a new stake in Ferrari in the fourth quarter valued at about $29,000. Entrust Financial LLC bought a new position in shares of Ferrari in the fourth quarter worth about $33,000. Bellevue Asset Management LLC bought a new position in shares of Ferrari in the first quarter worth about $34,000. Bamco Inc. NY boosted its stake in shares of Ferrari by 790.9% in the 4th quarter. Bamco Inc. NY now owns 98 shares of the company’s stock valued at $36,000 after purchasing an additional 87 shares in the last quarter. Finally, Dunhill Financial LLC acquired a new stake in shares of Ferrari in the 2nd quarter valued at approximately $38,000.

Analyst Ratings Changes

A number of research firms recently issued reports on RACE. Evercore reiterated an “outperform” rating and set a $485.00 price objective on shares of Ferrari in a research report on Friday, July 31st. Citigroup reaffirmed a “neutral” rating on shares of Ferrari in a research note on Monday, August 3rd. Morgan Stanley reiterated an “overweight” rating and set a $442.00 price target on shares of Ferrari in a report on Friday, July 31st. Needham & Company LLC upgraded Ferrari to a “neutral” rating in a research note on Friday, July 31st. Finally, Sanford C. Bernstein boosted their price objective on Ferrari from $402.00 to $460.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned 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 target price of $477.15.

Ferrari Stock Down 0.6%

NYSE:RACE opened at $421.86 on Wednesday. The firm’s 50 day simple moving average is $386.88 and its 200 day simple moving average is $361.63. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.85 and a quick ratio of 3.70. Ferrari N.V. has a one year low of $312.51 and a one year high of $504.49. The company has a market cap of $98.69 billion, a PE ratio of 39.17, a P/E/G ratio of 3.65 and a beta of 0.91.

Ferrari (NYSE:RACE) last posted its earnings results on Friday, July 31st. The company reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.16. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.14 billion. Ferrari had a net margin of 22.29% and a return on equity of 42.83%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.38 EPS. On average, research analysts anticipate that Ferrari N.V. will post 11.18 earnings per share for the current year.

Ferrari Company Profile

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.