United Capital Financial Advisors LLC Buys Shares of 1,412 Ferrari N.V. $RACE

United Capital Financial Advisors LLC bought a new position in Ferrari N.V. (NYSE:RACE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,412 shares of the company’s stock, valued at approximately $526,000.

Several other hedge funds also recently modified their holdings of RACE. Fideuram Asset Management Ireland dac acquired a new stake in shares of Ferrari in the 4th quarter valued at $29,000. Entrust Financial LLC acquired a new position in Ferrari during the fourth quarter worth $33,000. Bellevue Asset Management LLC bought a new position in Ferrari during the first quarter valued at about $34,000. Bamco Inc. NY raised its holdings in Ferrari by 790.9% during the fourth quarter. Bamco Inc. NY now owns 98 shares of the company’s stock valued at $36,000 after buying an additional 87 shares in the last quarter. Finally, Dunhill Financial LLC acquired a new stake in shares of Ferrari in the second quarter worth about $38,000.

Ferrari Stock Up 0.6%

RACE stock opened at $422.94 on Tuesday. The stock has a market capitalization of $98.95 billion, a price-to-earnings ratio of 39.27, a price-to-earnings-growth ratio of 3.61 and a beta of 0.91. The company has a 50-day moving average of $391.72 and a two-hundred day moving average of $363.75. Ferrari N.V. has a 52-week low of $312.51 and a 52-week high of $504.49. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.85 and a quick ratio of 3.70.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Friday, July 31st. The company reported $2.99 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.16. Ferrari had a return on equity of 42.83% and a net margin of 22.29%.The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the company posted $2.38 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities research analysts anticipate that Ferrari N.V. will post 11.18 EPS for the current year.

Analysts Set New Price Targets

RACE has been the subject of several recent analyst reports. UBS Group decreased their price target on Ferrari from $497.00 to $490.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Citigroup restated a “neutral” rating on shares of Ferrari in a report on Monday, August 3rd. Sanford C. Bernstein upped their target price on Ferrari from $402.00 to $460.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Evercore reiterated an “outperform” rating and set a $485.00 price target on shares of Ferrari in a report on Friday, July 31st. Finally, Needham & Company LLC raised shares of Ferrari to a “neutral” rating in a research report on Friday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $477.15.

Ferrari Company Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.