Evelyn Partners Asset Management Ltd Takes Position in Ferrari N.V. $RACE

Evelyn Partners Asset Management Ltd bought a new stake in shares of Ferrari N.V. (NYSE:RACE) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,468 shares of the company’s stock, valued at approximately $2,529,000.

A number of other hedge funds have also recently added to or reduced their stakes in RACE. Fideuram Asset Management Ireland dac purchased a new position in Ferrari during the fourth quarter worth approximately $29,000. Entrust Financial LLC purchased a new stake in shares of Ferrari in the fourth quarter valued at approximately $33,000. Bamco Inc. NY increased its position in shares of Ferrari by 790.9% in 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. Bellevue Asset Management LLC acquired a new position in shares of Ferrari during the 1st quarter worth approximately $34,000. Finally, CoreCap Advisors LLC raised its stake in shares of Ferrari by 70.0% during the 4th quarter. CoreCap Advisors LLC now owns 102 shares of the company’s stock worth $38,000 after buying an additional 42 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RACE. UBS Group lifted their price target on shares of Ferrari from $483.00 to $497.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Sanford C. Bernstein restated an “outperform” rating on shares of Ferrari in a research report on Tuesday, June 2nd. Wolfe Research began coverage on shares of Ferrari in a report on Tuesday, July 7th. They set an “outperform” rating on the stock. Jefferies Financial Group upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a research note on Wednesday, July 8th. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Ferrari presently has a consensus rating of “Moderate Buy” and a consensus target price of $471.97.

Ferrari Stock Performance

RACE opened at $380.09 on Tuesday. The firm has a market capitalization of $88.92 billion, a PE ratio of 36.47, a PEG ratio of 3.09 and a beta of 0.92. Ferrari N.V. has a twelve month low of $312.51 and a twelve month high of $515.00. The firm’s 50-day moving average price is $361.11 and its 200 day moving average price is $352.31. The company has a current ratio of 5.20, a quick ratio of 4.08 and a debt-to-equity ratio of 0.72.

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.