45,102 Shares in Ferrari N.V. $RACE Bought by Van ECK Associates Corp

Van ECK Associates Corp acquired a new stake in shares of Ferrari N.V. (NYSE:RACE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 45,102 shares of the company’s stock, valued at approximately $16,709,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. AQR Capital Management LLC grew its holdings in shares of Ferrari by 78.9% during the first quarter. AQR Capital Management LLC now owns 3,568 shares of the company’s stock worth $1,527,000 after purchasing an additional 1,574 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Ferrari by 31.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company’s stock valued at $82,000 after purchasing an additional 46 shares in the last quarter. Woodline Partners LP purchased a new stake in Ferrari in the first quarter valued at approximately $1,519,000. Sivia Capital Partners LLC lifted its position in Ferrari by 67.5% during the second quarter. Sivia Capital Partners LLC now owns 913 shares of the company’s stock valued at $448,000 after purchasing an additional 368 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Ferrari by 7.5% during the second quarter. Rhumbline Advisers now owns 1,370 shares of the company’s stock valued at $672,000 after purchasing an additional 96 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Evercore reissued an “outperform” rating and issued a $485.00 price target on shares of Ferrari in a research note on Friday, July 31st. Citigroup reaffirmed a “neutral” rating on shares of Ferrari in a report on Monday, August 3rd. Sanford C. Bernstein upped their target price on shares of Ferrari from $402.00 to $460.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. UBS Group reduced their target price on Ferrari from $497.00 to $490.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a research note on Wednesday, July 8th. Three equities research 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $477.15.

Ferrari Stock Performance

Shares of RACE stock opened at $422.94 on Tuesday. The company has a market capitalization of $98.95 billion, a P/E ratio of 39.27, a PEG ratio of 3.61 and a beta of 0.91. 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 debt-to-equity ratio of 0.86, a quick ratio of 3.70 and a current ratio of 4.85. The stock has a 50 day moving average price of $391.72 and a two-hundred day moving average price of $363.75.

Ferrari (NYSE:RACE) last issued its earnings results on Friday, July 31st. The company reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.16. Ferrari had a net margin of 22.29% and a return on equity of 42.83%. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the business earned $2.38 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. Analysts expect that Ferrari N.V. will post 11.18 earnings per share for the current year.

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.