5,082 Shares in Ferrari N.V. $RACE Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new position in Ferrari N.V. (NYSE:RACE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,082 shares of the company’s stock, valued at approximately $2,494,000.

Several other institutional investors also recently added to or reduced their stakes in RACE. Summit Trail Advisors LLC purchased a new position in Ferrari in the 1st quarter worth about $215,000. Novem Group increased its stake in Ferrari by 33.5% in the 1st quarter. Novem Group now owns 2,580 shares of the company’s stock worth $1,104,000 after buying an additional 647 shares during the period. Mutual Advisors LLC increased its stake in Ferrari by 58.9% in the 1st quarter. Mutual Advisors LLC now owns 1,020 shares of the company’s stock worth $470,000 after buying an additional 378 shares during the period. Checchi Capital Advisers LLC increased its stake in Ferrari by 4.3% in the 1st quarter. Checchi Capital Advisers LLC now owns 1,073 shares of the company’s stock worth $459,000 after buying an additional 44 shares during the period. Finally, OneDigital Investment Advisors LLC increased its stake in Ferrari by 3.7% in the 1st quarter. OneDigital Investment Advisors LLC now owns 3,329 shares of the company’s stock worth $1,424,000 after buying an additional 120 shares during the period.

Ferrari Stock Up 1.1%

Shares of Ferrari stock opened at $395.67 on Friday. The firm’s 50 day moving average price is $454.52 and its 200-day moving average price is $467.48. The company has a quick ratio of 3.94, a current ratio of 5.09 and a debt-to-equity ratio of 0.89. Ferrari N.V. has a 52-week low of $372.31 and a 52-week high of $519.10. The company has a market cap of $95.90 billion, a P/E ratio of 40.83, a PEG ratio of 4.15 and a beta of 1.08.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.13. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the firm earned $2.29 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, sell-side analysts predict that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RACE shares. Sanford C. Bernstein cut their target price on shares of Ferrari from $554.00 to $475.00 and set an “outperform” rating on the stock in a research report on Friday, October 10th. Cfra Research downgraded shares of Ferrari from a “hold” rating to a “moderate sell” rating in a research report on Thursday, July 31st. HSBC raised shares of Ferrari from a “hold” rating to a “buy” rating and set a $470.00 target price on the stock in a research report on Thursday, October 2nd. Royal Bank Of Canada reissued an “outperform” rating on shares of Ferrari in a research report on Monday, August 4th. Finally, UBS Group cut their target price on shares of Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $505.50.

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.