First Nebraska Trust Co Takes Position in Ferrari N.V. $RACE

First Nebraska Trust Co purchased a new position in shares of Ferrari N.V. (NYSE:RACE) during the second quarter, Holdings Channel.com reports. The fund purchased 3,600 shares of the company’s stock, valued at approximately $1,340,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new position in Ferrari during the 2nd quarter worth $952,874,000. Norges Bank bought a new stake in Ferrari in the fourth quarter valued at $779,894,000. Deutsche Bank AG acquired a new position in shares of Ferrari during the second quarter valued at $413,209,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Ferrari during the second quarter valued at $298,077,000. Finally, Morgan Stanley grew its position in shares of Ferrari by 43.4% during the fourth quarter. Morgan Stanley now owns 2,546,564 shares of the company’s stock worth $941,109,000 after acquiring an additional 771,039 shares during the last quarter.

Ferrari Price Performance

Shares of NYSE RACE opened at $436.38 on Friday. The stock has a market cap of $102.09 billion, a P/E ratio of 40.51, a P/E/G ratio of 3.75 and a beta of 0.91. The firm’s 50-day simple moving average is $384.67 and its 200 day simple moving average is $360.22. Ferrari N.V. has a fifty-two week low of $312.51 and a fifty-two week high of $504.49. The company has a quick ratio of 3.70, a current ratio of 4.85 and a debt-to-equity ratio of 0.86.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RACE shares. Needham & Company LLC raised shares of Ferrari to a “neutral” rating in a research note on Friday, July 31st. Morgan Stanley reaffirmed an “overweight” rating and set a $442.00 price target on shares of Ferrari in a report on Friday, July 31st. UBS Group cut their price target on Ferrari from $497.00 to $490.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Citigroup reiterated a “neutral” rating on shares of Ferrari in a research report on Monday, August 3rd. Finally, Sanford C. Bernstein increased their price objective on Ferrari from $402.00 to $460.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.