Ferrari N.V. $RACE Holdings Increased by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. lifted its stake in Ferrari N.V. (NYSE:RACE) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 456,513 shares of the company’s stock after purchasing an additional 16,703 shares during the period. Eurizon Capital SGR S.p.A. owned about 0.20% of Ferrari worth $180,374,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new stake in Ferrari during the 2nd quarter worth about $952,874,000. Deutsche Bank AG acquired a new stake in Ferrari in the 2nd quarter valued at about $413,209,000. The Manufacturers Life Insurance Company acquired a new stake in Ferrari in the 2nd quarter valued at about $388,816,000. Legal & General Group Plc acquired a new stake in Ferrari in the 2nd quarter valued at about $322,208,000. Finally, Bank of America Corp DE purchased a new position in shares of Ferrari in the 2nd quarter valued at about $311,400,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Weiss Ratings raised Ferrari from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Sanford C. Bernstein reiterated a “buy” rating on shares of Ferrari in a research note on Tuesday, September 29th. Jefferies Financial Group reiterated a “buy” rating on shares of Ferrari in a research note on Monday, August 17th. Berenberg Bank reiterated a “buy” rating on shares of Ferrari in a report on Monday, September 28th. Finally, Barclays reissued a “buy” rating on shares of Ferrari in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Ferrari has a consensus rating of “Moderate Buy” and an average target price of $456.71.

Ferrari Trading Down 2.4%

NYSE:RACE opened at $405.75 on Friday. The stock has a 50-day simple moving average of $402.77 and a 200-day simple moving average of $372.59. The stock has a market cap of $94.92 billion, a P/E ratio of 37.52, a P/E/G ratio of 3.71 and a beta of 0.89. Ferrari N.V. has a 1 year low of $312.51 and a 1 year high of $437.15. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.81 and a current ratio of 4.94.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.10. Ferrari had a return on equity of 43.71% and a net margin of 22.55%. The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the business posted $2.14 EPS. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, analysts anticipate that Ferrari N.V. will post 11.17 earnings per share for the current fiscal year.

Ferrari Profile

Ferrari N.V. designs, manufactures and sells luxury sports cars under the Ferrari brand. Based in Maranello, Italy, the company offers a range of road cars, including series-production models, special-series vehicles and limited-edition cars, with customization options for clients. Ferrari also operates a motorsports business centered on its racing heritage. Scuderia Ferrari competes in Formula One and other racing series, while the company organizes customer racing programs and events. In addition to cars and racing, Ferrari develops and licenses branded merchandise and lifestyle products.