Navellier & Associates Inc boosted its stake in shares of Ferrari N.V. (NYSE:RACE) by 16.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 10,745 shares of the company’s stock after acquiring an additional 1,523 shares during the period. Navellier & Associates Inc’s holdings in Ferrari N.V. were worth $924,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. Quadrant Capital Group LLC raised its position in Ferrari N.V. by 1.2% during the second quarter. Quadrant Capital Group LLC now owns 1,976 shares of the company’s stock worth $162,000 after acquiring an additional 24 shares during the period. Strategic Global Advisors LLC raised its position in Ferrari N.V. by 0.6% during the second quarter. Strategic Global Advisors LLC now owns 6,034 shares of the company’s stock worth $519,000 after acquiring an additional 38 shares during the period. PNC Financial Services Group Inc. raised its position in Ferrari N.V. by 6.6% during the second quarter. PNC Financial Services Group Inc. now owns 1,917 shares of the company’s stock worth $165,000 after acquiring an additional 119 shares during the period. Comerica Bank raised its position in Ferrari N.V. by 1.3% during the first quarter. Comerica Bank now owns 10,857 shares of the company’s stock worth $821,000 after acquiring an additional 144 shares during the period. Finally, Wetherby Asset Management Inc. raised its position in Ferrari N.V. by 3.4% during the second quarter. Wetherby Asset Management Inc. now owns 5,762 shares of the company’s stock worth $496,000 after acquiring an additional 187 shares during the period. Institutional investors own 29.79% of the company’s stock.
Shares of Ferrari N.V. (NYSE:RACE) traded up 0.49% during midday trading on Friday, hitting $115.63. 134,055 shares of the company were exchanged. The stock has a market capitalization of $21.85 billion, a price-to-earnings ratio of 37.73 and a beta of 1.70. The company has a 50-day moving average price of $113.00 and a 200-day moving average price of $97.66. Ferrari N.V. has a 52-week low of $50.39 and a 52-week high of $118.10.
Ferrari N.V. (NYSE:RACE) last announced its earnings results on Wednesday, August 2nd. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.13. Ferrari N.V. had a net margin of 14.43% and a return on equity of 128.49%. The firm had revenue of $1.01 billion during the quarter. On average, analysts forecast that Ferrari N.V. will post $3.19 EPS for the current year.
A number of equities analysts have weighed in on RACE shares. Zacks Investment Research cut shares of Ferrari N.V. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Berenberg Bank reaffirmed a “buy” rating on shares of Ferrari N.V. in a report on Monday, August 14th. Morgan Stanley lowered shares of Ferrari N.V. from an “overweight” rating to an “underweight” rating and set a $100.00 target price for the company. in a report on Thursday, September 7th. UBS AG reaffirmed a “buy” rating and set a $125.00 target price (up previously from $100.00) on shares of Ferrari N.V. in a report on Thursday, August 3rd. Finally, Evercore ISI upped their target price on shares of Ferrari N.V. from $46.00 to $105.00 and gave the stock an “in-line” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Ferrari N.V. presently has an average rating of “Buy” and a consensus target price of $109.86.
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Ferrari N.V. Company Profile
Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
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