Edmond DE Rothschild Holding S.A. Invests $15.59 Million in Ferrari N.V. $RACE

Edmond DE Rothschild Holding S.A. acquired a new position in Ferrari N.V. (NYSE:RACE) in the 2nd quarter, HoldingsChannel reports. The fund acquired 42,077 shares of the company’s stock, valued at approximately $15,586,000.

Several other institutional investors have also added to or reduced their stakes in the business. HighTower Advisors LLC boosted its holdings in Ferrari by 94.4% in the 4th quarter. HighTower Advisors LLC now owns 25,068 shares of the company’s stock worth $9,284,000 after buying an additional 12,175 shares during the period. Deutsche Bank AG raised its holdings in Ferrari by 3.9% during the 4th quarter. Deutsche Bank AG now owns 973,583 shares of the company’s stock valued at $359,797,000 after acquiring an additional 36,670 shares during the period. Vanguard Group Inc. raised its holdings in Ferrari by 1.1% during the 4th 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 during the period. China Universal Asset Management Co. Ltd. lifted its position in shares of Ferrari by 716.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,487 shares of the company’s stock worth $3,136,000 after acquiring an additional 7,448 shares in the last quarter. Finally, USS Investment Management Ltd lifted its position in shares of Ferrari by 902.0% during the first quarter. USS Investment Management Ltd now owns 229,353 shares of the company’s stock worth $76,588,000 after acquiring an additional 206,463 shares in the last quarter.

Ferrari Trading Up 3.1%

Shares of RACE opened at $425.14 on Thursday. Ferrari N.V. has a fifty-two week low of $312.51 and a fifty-two week high of $504.49. The firm has a market cap of $99.46 billion, a price-to-earnings ratio of 39.47, a PEG ratio of 3.55 and a beta of 0.91. The firm has a 50 day moving average price of $381.80 and a 200-day moving average price of $359.01. 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 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. As a group, equities research analysts forecast that Ferrari N.V. will post 11.18 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on RACE. Evercore reiterated an “outperform” rating and issued a $485.00 price target on shares of Ferrari in a research report on Friday, July 31st. Needham & Company LLC raised Ferrari to a “neutral” rating in a report on Friday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a research note on Wednesday, July 8th. UBS Group reduced their target price on Ferrari from $497.00 to $490.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Finally, Wolfe Research began coverage on shares of Ferrari in a research report on Tuesday, July 7th. They set an “outperform” rating for the company. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Ferrari presently has a consensus rating of “Moderate Buy” and an average price target 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.