United Capital Financial Advisors LLC Acquires Shares of 1,412 Ferrari N.V. $RACE

United Capital Financial Advisors LLC bought a new position in Ferrari N.V. (NYSE:RACE) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,412 shares of the company’s stock, valued at approximately $526,000.

Several other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC grew its position in Ferrari by 78.9% during the 1st 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. lifted its holdings in shares of 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 shares of Ferrari in the first quarter valued at $1,519,000. Sivia Capital Partners LLC boosted its position in shares of Ferrari by 67.5% in the second quarter. Sivia Capital Partners LLC now owns 913 shares of the company’s stock worth $448,000 after buying an additional 368 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Ferrari by 7.5% in the second quarter. Rhumbline Advisers now owns 1,370 shares of the company’s stock worth $672,000 after buying an additional 96 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on RACE shares. Evercore reissued an “outperform” rating and set a $485.00 price target on shares of Ferrari in a research report on Friday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of Ferrari in a research report on Wednesday, July 8th. Sanford C. Bernstein lifted their target price on Ferrari from $402.00 to $460.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Wolfe Research initiated coverage on Ferrari in a report on Tuesday, July 7th. They issued an “outperform” rating on the stock. Finally, Needham & Company LLC raised shares of Ferrari to a “neutral” rating in a research report on Friday, July 31st. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $477.15.

Ferrari Trading Up 0.6%

Ferrari stock opened at $422.94 on Tuesday. Ferrari N.V. has a 12 month low of $312.51 and a 12 month high of $504.49. The company has a quick ratio of 3.70, a current ratio of 4.85 and a debt-to-equity ratio of 0.86. The stock has a market cap of $98.95 billion, a P/E ratio of 39.27, a P/E/G ratio of 3.61 and a beta of 0.91. The company’s fifty day simple moving average is $391.72 and its 200-day simple moving average is $363.75.

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, topping the consensus estimate of $2.83 by $0.16. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.14 billion. Ferrari had a return on equity of 42.83% and a net margin of 22.29%.Ferrari’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $2.38 earnings per share. As a group, sell-side analysts forecast that Ferrari N.V. will post 11.18 EPS for the current fiscal year.

Ferrari Company 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.