Verdence Capital Advisors LLC Grows Stock Holdings in Ferrari N.V. (NYSE:RACE)

Verdence Capital Advisors LLC grew its holdings in Ferrari N.V. (NYSE:RACE) by 10.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,480 shares of the company’s stock after purchasing an additional 230 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Ferrari were worth $1,061,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Garde Capital Inc. lifted its position in shares of Ferrari by 5.0% during the 4th quarter. Garde Capital Inc. now owns 525 shares of the company’s stock worth $223,000 after purchasing an additional 25 shares during the last quarter. Rehmann Capital Advisory Group raised its holdings 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 purchasing an additional 26 shares in the last quarter. PDS Planning Inc raised its holdings in Ferrari by 4.8% during the fourth quarter. PDS Planning Inc now owns 589 shares of the company’s stock worth $250,000 after purchasing an additional 27 shares in the last quarter. Fifth Third Bancorp raised its holdings 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 purchasing an additional 31 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Ferrari by 1.3% during the first quarter. International Assets Investment Management LLC now owns 2,711 shares of the company’s stock worth $1,160,000 after purchasing an additional 34 shares in the last quarter.

Ferrari Stock Performance

RACE opened at $506.39 on Friday. The company’s fifty day moving average price is $483.24 and its two-hundred day moving average price is $459.45. The company has a market cap of $122.74 billion, a price-to-earnings ratio of 53.59, a PEG ratio of 5.54 and a beta of 1.09. The company has a current ratio of 5.09, a quick ratio of 4.04 and a debt-to-equity ratio of 0.93. Ferrari N.V. has a 1-year low of $391.54 and a 1-year high of $509.49.

Ferrari (NYSE:RACE) last announced its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.06. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.82 billion. Ferrari had a net margin of 23.00% and a return on equity of 46.46%. Ferrari’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the firm posted $1.95 earnings per share. On average, analysts expect that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RACE. Wall Street Zen cut shares of Ferrari from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th. UBS Group lifted their price target on shares of Ferrari from $520.00 to $560.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, March 28th. JPMorgan Chase & Co. decreased their price target on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Finally, Kepler Capital Markets raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 28th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.