Wilkinson Global Asset Management LLC Invests $2.29 Million in 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 the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,140 shares of the company’s stock, valued at approximately $2,285,000.

Other hedge funds have also made changes to their positions in the company. Fideuram Asset Management Ireland dac purchased a new position in Ferrari during the 4th quarter worth approximately $29,000. Entrust Financial LLC purchased a new stake in shares of Ferrari in the fourth quarter valued at $33,000. Bellevue Asset Management LLC purchased a new stake in shares of Ferrari in the first quarter valued at $34,000. Bamco Inc. NY boosted 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 worth $36,000 after buying an additional 87 shares during the period. Finally, Navalign LLC acquired a new stake in shares of Ferrari in the fourth quarter worth $41,000.

Ferrari Trading Down 0.1%

Shares of NYSE:RACE opened at $414.46 on Monday. The firm has a fifty day moving average of $377.84 and a two-hundred day moving average of $357.28. 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 12-month low of $312.51 and a 12-month high of $504.49. The firm has a market capitalization of $96.96 billion, a P/E ratio of 38.48, a price-to-earnings-growth ratio of 3.57 and a beta of 0.91.

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

Analyst Upgrades and Downgrades

RACE has been the topic of a number of research analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $442.00 price target on shares of Ferrari in a report on Friday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a research report on Wednesday, July 8th. Evercore restated an “outperform” rating and set a $485.00 price objective on shares of Ferrari in a research report on Friday, July 31st. Citigroup reaffirmed a “neutral” rating on shares of Ferrari in a research note on Monday, August 3rd. Finally, Wolfe Research assumed coverage on Ferrari in a report on Tuesday, July 7th. They issued an “outperform” rating on the stock. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Ferrari has an average rating of “Moderate Buy” and a consensus 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.