Osmosis Investment Management UK Ltd Takes $1.20 Million Position in Ferrari N.V. $RACE

Osmosis Investment Management UK Ltd bought a new position in shares of Ferrari N.V. (NYSE:RACE) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,236 shares of the company’s stock, valued at approximately $1,200,000.

A number of other institutional investors also recently modified their holdings of RACE. Benjamin Edwards Inc. increased its holdings in Ferrari by 3.7% during the 2nd quarter. Benjamin Edwards Inc. now owns 613 shares of the company’s stock valued at $299,000 after purchasing an additional 22 shares during the period. Pacific Sun Financial Corp raised its position in Ferrari by 2.5% during the 3rd quarter. Pacific Sun Financial Corp now owns 1,008 shares of the company’s stock valued at $489,000 after purchasing an additional 25 shares during the last quarter. Horizon Investments LLC lifted its holdings in Ferrari by 33.3% in the 3rd quarter. Horizon Investments LLC now owns 104 shares of the company’s stock worth $50,000 after buying an additional 26 shares during the period. Evergreen Capital Management LLC lifted its holdings in Ferrari by 1.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,928 shares of the company’s stock worth $946,000 after buying an additional 26 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Ferrari by 14.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 222 shares of the company’s stock worth $108,000 after buying an additional 28 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RACE shares. Citigroup reissued a “neutral” rating on shares of Ferrari in a research note on Monday, August 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $442.00 price target on shares of Ferrari in a research note on Friday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a report on Wednesday, July 8th. Needham & Company LLC raised shares of Ferrari to a “neutral” rating in a research report on Friday, July 31st. Finally, UBS Group decreased their price objective on shares of Ferrari from $497.00 to $490.00 and set a “buy” rating for the company in a 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $477.15.

Ferrari Stock Performance

Shares of RACE stock opened at $424.31 on Tuesday. The company’s fifty day moving average price is $385.77 and its 200-day moving average price is $361.05. The stock has a market cap of $99.27 billion, a PE ratio of 39.39, a price-to-earnings-growth ratio of 3.75 and a beta of 0.91. 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 12 month low of $312.51 and a 12 month high of $504.49.

Ferrari (NYSE:RACE) last issued its quarterly 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 company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the business earned $2.38 EPS. Ferrari’s quarterly revenue 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.

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.