Ieq Capital LLC Invests $1.85 Million in Ferrari N.V. $RACE

Ieq Capital LLC bought a new stake in Ferrari N.V. (NYSE:RACE) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,974 shares of the company’s stock, valued at approximately $1,852,000.

Other institutional investors have also recently bought and sold shares of the company. Callan Family Office LLC acquired a new stake in shares of Ferrari in the second quarter valued at approximately $1,953,000. Allworth Financial LP bought a new stake in Ferrari in the 2nd quarter valued at $164,000. AlpenGlobal Capital LLC acquired a new stake in Ferrari during the 2nd quarter valued at $4,587,000. Silvant Capital Management LLC bought a new position in Ferrari during the second quarter worth $5,240,000. Finally, Advisors Capital Management LLC bought a new position in Ferrari during the second quarter worth $293,000.

Analyst Ratings Changes

A number of analysts have recently issued reports on RACE shares. UBS Group cut their target price on shares of Ferrari from $497.00 to $490.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a report on Wednesday, July 8th. Morgan Stanley restated an “overweight” rating and set a $442.00 price objective on shares of Ferrari in a research report on Friday, July 31st. Citigroup restated a “neutral” rating on shares of Ferrari in a report on Monday, August 3rd. Finally, Needham & Company LLC raised Ferrari to a “neutral” rating in a research report on Friday, July 31st. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $477.15.

Ferrari Price Performance

Ferrari stock opened at $421.86 on Wednesday. The firm has a market cap of $98.69 billion, a PE ratio of 39.17, a price-to-earnings-growth ratio of 3.65 and a beta of 0.91. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.85 and a quick ratio of 3.70. The stock’s fifty day moving average price is $386.88 and its two-hundred day moving average price is $361.63. Ferrari N.V. has a one year low of $312.51 and a one year high of $504.49.

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

Ferrari 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.