Jafra Capital Management LP acquired a new stake in shares of Ferrari NV (NYSE:RACE) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 13,900 shares of the company’s stock, valued at approximately $1,877,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in RACE. Comerica Bank increased its position in Ferrari by 3.7% during the 1st quarter. Comerica Bank now owns 12,730 shares of the company’s stock worth $1,568,000 after purchasing an additional 458 shares in the last quarter. Aperio Group LLC increased its position in Ferrari by 3.9% during the 1st quarter. Aperio Group LLC now owns 130,648 shares of the company’s stock worth $15,746,000 after purchasing an additional 4,954 shares in the last quarter. US Bancorp DE increased its position in Ferrari by 5.6% during the 1st quarter. US Bancorp DE now owns 13,540 shares of the company’s stock worth $1,631,000 after purchasing an additional 714 shares in the last quarter. Northern Trust Corp increased its position in Ferrari by 11.4% during the 1st quarter. Northern Trust Corp now owns 616,593 shares of the company’s stock worth $74,311,000 after purchasing an additional 63,287 shares in the last quarter. Finally, Cigna Investments Inc. New acquired a new position in Ferrari during the 1st quarter worth approximately $200,000. 34.26% of the stock is owned by institutional investors and hedge funds.
NYSE RACE traded down $0.78 on Friday, hitting $132.28. The company’s stock had a trading volume of 506,123 shares, compared to its average volume of 609,859. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.71 and a current ratio of 3.36. Ferrari NV has a 1-year low of $103.65 and a 1-year high of $149.85. The stock has a market cap of $25.87 billion, a P/E ratio of 41.47, a price-to-earnings-growth ratio of 2.16 and a beta of 1.19.
Ferrari (NYSE:RACE) last posted its quarterly earnings data on Wednesday, August 1st. The company reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.10. Ferrari had a net margin of 17.18% and a return on equity of 72.38%. The company had revenue of $906.00 million during the quarter, compared to analysts’ expectations of $925.46 million. During the same period in the prior year, the company posted $0.72 earnings per share. Ferrari’s revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts predict that Ferrari NV will post 3.66 earnings per share for the current fiscal year.
Several equities analysts have issued reports on RACE shares. ValuEngine upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, August 29th. Zacks Investment Research upgraded shares of Ferrari from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 21st. HSBC upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, August 29th. Credit Suisse Group upped their price target on shares of Ferrari from $156.00 to $160.00 and gave the company an “outperform” rating in a research report on Thursday, September 20th. Finally, Morgan Stanley upgraded shares of Ferrari from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $110.00 to $120.00 in a research report on Thursday, August 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $148.80.
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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