Lmcg Investments LLC Acquires New Stake in Ferrari N.V. $RACE

Lmcg Investments LLC acquired a new position in Ferrari N.V. (NYSE:RACE) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 9,871 shares of the company’s stock, valued at approximately $3,878,000.

Several other hedge funds and other institutional investors have also modified their holdings of RACE. Anchor Investment Management LLC raised its stake in Ferrari by 1,625.0% during the 2nd quarter. Anchor Investment Management LLC now owns 69 shares of the company’s stock valued at $26,000 after purchasing an additional 65 shares during the last quarter. Bellevue Asset Management LLC bought a new stake in Ferrari in the 1st quarter valued at $34,000. Grove Bank & Trust grew its position in Ferrari by 51.5% in the 3rd quarter. Grove Bank & Trust now owns 100 shares of the company’s stock worth $39,000 after purchasing an additional 34 shares during the last quarter. Dunhill Financial LLC acquired a new stake in Ferrari in the 2nd quarter worth $38,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Ferrari in the 2nd quarter worth $38,000.

Analysts Set New Price Targets

Several research analysts have recently issued reports on RACE shares. Royal Bank Of Canada restated a “buy” rating on shares of Ferrari in a report on Monday, September 21st. Wolfe Research assumed coverage on shares of Ferrari in a research note on Tuesday, July 7th. They issued an “outperform” rating for the company. Banca Akros downgraded Ferrari to a “neutral” rating in a research report on Monday, August 24th. Evercore reissued an “outperform” rating and set a $485.00 target price on shares of Ferrari in a research report on Friday, July 31st. Finally, Morningstar lowered Ferrari to a “hold” rating in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $456.71.

Ferrari Stock Performance

RACE opened at $396.87 on Thursday. The stock has a market cap of $92.85 billion, a PE ratio of 37.16, a P/E/G ratio of 3.45 and a beta of 0.93. The company has a current ratio of 4.85, a quick ratio of 3.70 and a debt-to-equity ratio of 0.86. Ferrari N.V. has a 1 year low of $312.51 and a 1 year high of $437.15. The stock’s 50 day simple moving average is $406.53 and its 200-day simple moving average is $377.13.

Ferrari (NYSE:RACE) last issued its earnings results on Friday, July 31st. The company reported $2.99 EPS for the quarter, beating analysts’ consensus estimates 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 revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.38 earnings per share. Sell-side analysts forecast that Ferrari N.V. will post 11.16 EPS for the current year.

Ferrari Profile

Ferrari N.V. is an Italian luxury automotive company that designs, develops, manufactures and sells high-performance sports cars. Its vehicle portfolio includes grand touring models, mid- and rear-engine sports cars, limited-edition special series and high-performance supercars. Ferrari also offers extensive personalization options, allowing customers to tailor vehicle specifications, materials and finishes.

The company traces its origins to 1939, when Enzo Ferrari established Auto Avio Costruzioni, and it produced its first Ferrari-badged car in 1947.