Wilkinson Global Asset Management LLC Buys Shares of 6,140 Ferrari N.V. $RACE

Wilkinson Global Asset Management LLC purchased a new stake in shares of Ferrari N.V. (NYSE:RACE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,140 shares of the company’s stock, valued at approximately $2,285,000.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Ferrari by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company’s stock valued at $1,937,388,000 after acquiring an additional 58,506 shares in the last quarter. Amundi raised its holdings in Ferrari by 11.1% during the fourth quarter. Amundi now owns 3,303,264 shares of the company’s stock worth $1,220,754,000 after purchasing an additional 330,896 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Ferrari by 8.4% in the first quarter. Bank of New York Mellon Corp now owns 2,808,855 shares of the company’s stock worth $950,657,000 after purchasing an additional 218,830 shares during the period. Morgan Stanley lifted its position in Ferrari by 43.4% in the fourth quarter. Morgan Stanley now owns 2,546,564 shares of the company’s stock worth $941,109,000 after purchasing an additional 771,039 shares during the period. Finally, Norges Bank bought a new position in Ferrari during the 4th quarter valued at $779,894,000.

Ferrari Trading Down 0.1%

Ferrari stock opened at $414.46 on Monday. The firm has a market cap of $96.96 billion, a price-to-earnings ratio of 38.48, a price-to-earnings-growth ratio of 3.57 and a beta of 0.91. Ferrari N.V. has a 1 year low of $312.51 and a 1 year high of $504.49. The firm’s 50 day moving average price is $377.84 and its two-hundred day moving average price is $357.28. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.70 and a current ratio of 4.85.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RACE shares. Evercore reiterated an “outperform” rating and set a $485.00 price target on shares of Ferrari in a research report on Friday, July 31st. Wolfe Research started coverage on Ferrari in a report on Tuesday, July 7th. They issued an “outperform” rating for the company. Morgan Stanley reaffirmed an “overweight” rating and set a $442.00 target price on shares of Ferrari 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, Needham & Company LLC raised shares of Ferrari to a “neutral” rating 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 issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus 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.