Ferrari N.V. $RACE Shares Acquired by Value Partners Investments Inc.

Value Partners Investments Inc. grew its holdings in Ferrari N.V. (NYSE:RACE) by 49.8% in the 1st quarter, HoldingsChannel reports. The firm owned 30,072 shares of the company’s stock after purchasing an additional 10,000 shares during the quarter. Ferrari makes up 0.8% of Value Partners Investments Inc.’s holdings, making the stock its 25th biggest holding. Value Partners Investments Inc.’s holdings in Ferrari were worth $10,190,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Benjamin Edwards Inc. lifted its holdings in Ferrari by 3.7% during the 2nd quarter. Benjamin Edwards Inc. now owns 613 shares of the company’s stock worth $299,000 after buying an additional 22 shares in the last quarter. Pacific Sun Financial Corp increased its position in shares of Ferrari by 2.5% during the third quarter. Pacific Sun Financial Corp now owns 1,008 shares of the company’s stock worth $489,000 after acquiring an additional 25 shares during the period. Horizon Investments LLC increased its position in shares of Ferrari by 33.3% during the third quarter. Horizon Investments LLC now owns 104 shares of the company’s stock worth $50,000 after acquiring an additional 26 shares during the period. Evergreen Capital Management LLC raised its stake in shares of Ferrari by 1.4% in the second quarter. Evergreen Capital Management LLC now owns 1,928 shares of the company’s stock valued at $946,000 after acquiring an additional 26 shares in the last quarter. Finally, Enhancing Capital LLC boosted its holdings in Ferrari by 1.6% in the third quarter. Enhancing Capital LLC now owns 1,808 shares of the company’s stock valued at $877,000 after purchasing an additional 28 shares during the period.

Ferrari Stock Performance

Shares of Ferrari stock opened at $367.78 on Friday. The company has a quick ratio of 4.08, a current ratio of 5.20 and a debt-to-equity ratio of 0.72. Ferrari N.V. has a 52 week low of $312.51 and a 52 week high of $519.10. The firm’s 50 day moving average is $347.55 and its two-hundred day moving average is $352.07. The firm has a market capitalization of $86.04 billion, a P/E ratio of 35.29, a P/E/G ratio of 3.36 and a beta of 0.93.

Wall Street Analysts Forecast Growth

RACE has been the topic of several recent research reports. UBS Group cut their price target on Ferrari from $555.00 to $483.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. JPMorgan Chase & Co. boosted their price objective on Ferrari from $407.00 to $447.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ferrari in a report on Friday, April 10th. Jefferies Financial Group upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Finally, Morgan Stanley raised shares of Ferrari from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $388.00 to $438.00 in a research report on Monday, June 15th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $470.70.

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.