US Bancorp DE grew its position in shares of Ferrari NV (NYSE:RACE) by 5.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,298 shares of the company’s stock after purchasing an additional 758 shares during the period. US Bancorp DE’s holdings in Ferrari were worth $1,931,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Wedbush Securities Inc. grew its position in Ferrari by 16.4% in the second quarter. Wedbush Securities Inc. now owns 2,945 shares of the company’s stock worth $398,000 after acquiring an additional 415 shares in the last quarter. Comerica Bank grew its position in Ferrari by 3.7% in the first quarter. Comerica Bank now owns 12,730 shares of the company’s stock worth $1,568,000 after acquiring an additional 458 shares in the last quarter. San Francisco Sentry Investment Group CA grew its position in Ferrari by 10.0% in the first quarter. San Francisco Sentry Investment Group CA now owns 5,742 shares of the company’s stock worth $692,000 after acquiring an additional 520 shares in the last quarter. Gideon Capital Advisors Inc. grew its position in Ferrari by 29.8% in the first quarter. Gideon Capital Advisors Inc. now owns 2,508 shares of the company’s stock worth $302,000 after acquiring an additional 576 shares in the last quarter. Finally, Bluestein R H & Co. grew its position in Ferrari by 5.0% in the first quarter. Bluestein R H & Co. now owns 14,700 shares of the company’s stock worth $1,772,000 after acquiring an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 34.28% of the company’s stock.
Shares of NYSE:RACE opened at $127.11 on Thursday. The company has a market capitalization of $24.77 billion, a P/E ratio of 39.85, a price-to-earnings-growth ratio of 2.06 and a beta of 1.20. Ferrari NV has a 52 week low of $103.65 and a 52 week high of $149.85. The company has a quick ratio of 2.71, a current ratio of 3.36 and a debt-to-equity ratio of 2.00.
Ferrari (NYSE:RACE) last issued its quarterly earnings data on Wednesday, August 1st. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.10. The company had revenue of $906.00 million during the quarter, compared to the consensus estimate of $925.46 million. Ferrari had a net margin of 17.18% and a return on equity of 72.38%. Ferrari’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 earnings per share. sell-side analysts predict that Ferrari NV will post 3.67 EPS for the current fiscal year.
Several analysts have issued reports on the stock. ValuEngine raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. HSBC raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, August 29th. Morgan Stanley raised shares of Ferrari from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $110.00 to $120.00 in a research note on Thursday, August 2nd. Zacks Investment Research raised shares of Ferrari from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 21st. Finally, Goldman Sachs Group assumed coverage on shares of Ferrari in a research note on Friday, May 25th. They issued a “neutral” rating for the company. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Ferrari presently has an average rating of “Buy” and a consensus target price of $141.83.
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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