Neuberger Berman Group LLC decreased its stake in shares of Ferrari (NYSE:RACE) by 52.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,242 shares of the company’s stock after selling 7,973 shares during the period. Neuberger Berman Group LLC’s holdings in Ferrari were worth $870,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership raised its position in Ferrari by 194.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,238,194 shares of the company’s stock worth $234,710,000 after acquiring an additional 1,477,464 shares during the period. Deutsche Bank AG raised its position in Ferrari by 44.2% in the fourth quarter. Deutsche Bank AG now owns 1,228,151 shares of the company’s stock worth $128,756,000 after acquiring an additional 376,174 shares during the period. WCM Investment Management CA raised its position in Ferrari by 5.9% in the fourth quarter. WCM Investment Management CA now owns 1,041,167 shares of the company’s stock worth $109,156,000 after acquiring an additional 58,303 shares during the period. Amundi Pioneer Asset Management Inc. bought a new position in Ferrari in the fourth quarter worth approximately $72,805,000. Finally, Swiss National Bank raised its position in Ferrari by 6.0% in the first quarter. Swiss National Bank now owns 579,705 shares of the company’s stock worth $69,674,000 after acquiring an additional 32,937 shares during the period. Institutional investors own 32.19% of the company’s stock.
Shares of Ferrari opened at $139.46 on Thursday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 2.03, a current ratio of 3.17 and a quick ratio of 2.56. The firm has a market capitalization of $25.79 billion, a PE ratio of 43.72, a PEG ratio of 2.22 and a beta of 1.40. Ferrari has a 1 year low of $84.38 and a 1 year high of $141.56.
Ferrari (NYSE:RACE) last announced its quarterly earnings data on Thursday, May 3rd. The company reported $0.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.10). The firm had revenue of $831.00 million during the quarter, compared to analysts’ expectations of $835.47 million. Ferrari had a return on equity of 79.32% and a net margin of 16.44%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the company earned $0.65 earnings per share. research analysts predict that Ferrari will post 3.56 earnings per share for the current fiscal year.
Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Ferrari from a “sell” rating to a “buy” rating and set a $154.00 price target on the stock in a research report on Tuesday, May 8th. Credit Suisse Group increased their price target on shares of Ferrari from $150.00 to $156.00 and gave the stock an “outperform” rating in a research report on Friday, May 4th. Morgan Stanley increased their price target on shares of Ferrari from $105.00 to $110.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 22nd. ValuEngine upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. Finally, Goldman Sachs Group assumed coverage on shares of Ferrari in a research report on Friday, May 25th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. Ferrari currently has a consensus rating of “Buy” and a consensus price target of $130.75.
Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports cars, GT cars, special series cars, limited edition supercars, limited editions series, and one-off cars; and open air roadsters and two-seater mid-rear-engined roadsters.
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