Evelyn Partners Investment Management LLP Increases Holdings in Ferrari N.V. $RACE

Evelyn Partners Investment Management LLP raised its stake in shares of Ferrari N.V. (NYSE:RACE) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,528 shares of the company’s stock after buying an additional 2,156 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in Ferrari were worth $24,904,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Caprock Group LLC purchased a new position in Ferrari during the third quarter valued at $1,484,000. Lansforsakringar Fondforvaltning AB publ raised its stake in Ferrari by 6.6% during the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 51,928 shares of the company’s stock valued at $25,114,000 after buying an additional 3,224 shares during the last quarter. HighTower Advisors LLC raised its stake in Ferrari by 94.4% during the fourth quarter. HighTower Advisors LLC now owns 25,068 shares of the company’s stock valued at $9,284,000 after buying an additional 12,175 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Ferrari by 3.3% in the third quarter. CIBC Private Wealth Group LLC now owns 183,917 shares of the company’s stock worth $89,077,000 after purchasing an additional 5,958 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Ferrari by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company’s stock worth $1,937,388,000 after purchasing an additional 58,506 shares during the last quarter.

Ferrari Stock Down 3.0%

RACE stock opened at $354.77 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.20 and a quick ratio of 4.08. Ferrari N.V. has a 1-year low of $312.51 and a 1-year high of $519.10. The stock has a market capitalization of $83.00 billion, a P/E ratio of 34.04, a P/E/G ratio of 3.36 and a beta of 0.93. The business has a fifty day moving average price of $345.59 and a 200-day moving average price of $354.15.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Jefferies Financial Group upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. UBS Group decreased their price target on Ferrari from $555.00 to $483.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a research note on Friday, April 10th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Ferrari in a research note on Tuesday, June 2nd. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $469.06.

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.