Nissay Asset Management Corp Japan Acquires New Holdings in Ferrari N.V. $RACE

Nissay Asset Management Corp Japan bought a new position in shares of Ferrari N.V. (NYSE:RACE) during the second quarter, Holdings Channel reports. The fund bought 5,919 shares of the company’s stock, valued at approximately $2,204,000.

Several other large investors have also recently bought and sold shares of the company. Benjamin Edwards Inc. grew its position in shares of Ferrari by 3.7% during the 2nd quarter. Benjamin Edwards Inc. now owns 613 shares of the company’s stock valued at $299,000 after purchasing an additional 22 shares in the last quarter. Pacific Sun Financial Corp boosted its stake in Ferrari by 2.5% during the third quarter. Pacific Sun Financial Corp now owns 1,008 shares of the company’s stock valued at $489,000 after buying an additional 25 shares during the period. Horizon Investments LLC grew its position in Ferrari by 33.3% during the third quarter. Horizon Investments LLC now owns 104 shares of the company’s stock worth $50,000 after buying an additional 26 shares in the last quarter. Evergreen Capital Management LLC increased its stake in Ferrari by 1.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,928 shares of the company’s stock worth $946,000 after acquiring an additional 26 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ferrari by 14.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 222 shares of the company’s stock valued at $108,000 after acquiring an additional 28 shares in the last quarter.

Ferrari Stock Performance

Ferrari stock opened at $422.94 on Tuesday. The firm has a fifty day simple moving average of $391.72 and a two-hundred day simple moving average of $363.75. 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 N.V. has a twelve month low of $312.51 and a twelve month high of $504.49. The company has a market capitalization of $98.95 billion, a PE ratio of 39.27, a P/E/G ratio of 3.61 and a beta of 0.91.

Ferrari (NYSE:RACE) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $2.14 billion. Ferrari had a return on equity of 42.83% and a net margin of 22.29%.The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $2.38 earnings per share. Research analysts expect that Ferrari N.V. will post 11.18 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a report on Wednesday, July 8th. Morgan Stanley reissued an “overweight” rating and issued a $442.00 price target on shares of Ferrari in a research note on Friday, July 31st. Sanford C. Bernstein increased their price target on shares of Ferrari from $402.00 to $460.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. UBS Group dropped their price objective on shares of Ferrari from $497.00 to $490.00 and set a “buy” rating for the company in a report on Friday, July 31st. Finally, Evercore reiterated an “outperform” rating and issued a $485.00 price objective on shares of Ferrari in a report on Friday, July 31st. Three investment 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, Ferrari has an average rating of “Moderate Buy” and an average target price of $477.15.

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.