129,047 Shares in Ferrari N.V. $RACE Acquired by EFG International AG

EFG International AG acquired a new stake in shares of Ferrari N.V. (NYSE:RACE) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 129,047 shares of the company’s stock, valued at approximately $47,804,000. Ferrari makes up approximately 0.9% of EFG International AG’s holdings, making the stock its 27th largest position. EFG International AG owned approximately 0.06% of Ferrari at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RACE. Palisade Capital Management LP bought a new stake in Ferrari in the second quarter worth $271,000. Canada Pension Plan Investment Board bought a new position in shares of Ferrari during the second quarter valued at $70,648,000. Castleark Management LLC bought a new position in shares of Ferrari during the second quarter valued at $1,977,000. Legal & General Group Plc purchased a new position in shares of Ferrari in the 2nd quarter worth about $322,208,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Ferrari in the 2nd quarter worth about $388,816,000.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a research report on Wednesday, July 8th. Wolfe Research began coverage on shares of Ferrari in a research note on Tuesday, July 7th. They issued an “outperform” rating on the stock. Sanford C. Bernstein increased their price target on shares of Ferrari from $402.00 to $460.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Needham & Company LLC raised shares of Ferrari to a “neutral” rating in a research report on Friday, July 31st. Finally, Citigroup restated a “neutral” rating on shares of Ferrari in a report on Monday, August 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ferrari presently has a consensus rating of “Moderate Buy” and an average price target of $477.15.

Ferrari Stock Down 0.6%

RACE stock opened at $421.86 on Wednesday. Ferrari N.V. has a fifty-two week low of $312.51 and a fifty-two week high of $504.49. The business’s 50-day moving average is $386.88 and its two-hundred day moving average is $361.63. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.70 and a current ratio of 4.85. The company has a market cap of $98.69 billion, a price-to-earnings ratio of 39.17, a P/E/G ratio of 3.65 and a beta of 0.91.

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

About Ferrari

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.