Evelyn Partners Investment Management Services Ltd Has $1.33 Million Stock Holdings in Ferrari N.V. $RACE

Evelyn Partners Investment Management Services Ltd grew its position in shares of Ferrari N.V. (NYSE:RACE) by 105.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,943 shares of the company’s stock after buying an additional 2,025 shares during the period. Evelyn Partners Investment Management Services Ltd’s holdings in Ferrari were worth $1,335,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. HighTower Advisors LLC increased its holdings in shares of Ferrari by 94.4% during the fourth quarter. HighTower Advisors LLC now owns 25,068 shares of the company’s stock worth $9,284,000 after purchasing an additional 12,175 shares during the period. Deutsche Bank AG raised its holdings in Ferrari by 3.9% in the 4th quarter. Deutsche Bank AG now owns 973,583 shares of the company’s stock valued at $359,797,000 after acquiring an additional 36,670 shares in the last quarter. Vanguard Group Inc. raised its stake in Ferrari by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company’s stock valued at $1,937,388,000 after purchasing an additional 58,506 shares in the last quarter. Baer Investment Advisory LLC acquired a new stake in Ferrari during the fourth quarter worth about $1,970,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in Ferrari by 716.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,487 shares of the company’s stock worth $3,136,000 after buying an additional 7,448 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RACE shares. Sanford C. Bernstein restated an “outperform” rating on shares of Ferrari in a research report on Tuesday, June 2nd. Wolfe Research assumed coverage on shares of Ferrari in a research report on Tuesday, July 7th. They set an “outperform” rating on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a research note on Wednesday, July 8th. UBS Group boosted their price objective on shares of Ferrari from $483.00 to $497.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, Jefferies Financial Group upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Ferrari has a consensus rating of “Moderate Buy” and a consensus target price of $471.97.

Ferrari Stock Up 5.5%

RACE stock opened at $380.09 on Tuesday. The firm has a 50-day moving average price of $361.11 and a 200-day moving average price of $352.31. The stock has a market capitalization of $88.92 billion, a P/E ratio of 36.47, a price-to-earnings-growth ratio of 3.09 and a beta of 0.92. Ferrari N.V. has a 12 month low of $312.51 and a 12 month high of $515.00. The company has a current ratio of 5.20, a quick ratio of 4.08 and a debt-to-equity ratio of 0.72.

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.