14,075 Shares in Ferrari N.V. $RACE Bought by Silvant Capital Management LLC

Silvant Capital Management LLC acquired a new position in Ferrari N.V. (NYSE:RACE) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 14,075 shares of the company’s stock, valued at approximately $5,240,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RACE. Bank of New York Mellon Corp acquired a new position in shares of Ferrari during the 2nd quarter worth $952,874,000. Norges Bank purchased a new position in shares of Ferrari in the 4th quarter valued at about $779,894,000. Deutsche Bank AG purchased a new position in shares of Ferrari in the 2nd quarter valued at about $413,209,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Ferrari in the second quarter valued at about $298,077,000. Finally, Morgan Stanley lifted its stake in shares of Ferrari by 43.4% in the fourth quarter. Morgan Stanley now owns 2,546,564 shares of the company’s stock valued at $941,109,000 after purchasing an additional 771,039 shares during the period.

Wall Street Analyst Weigh In

A number of research firms recently commented on RACE. Needham & Company LLC raised shares of Ferrari to a “neutral” rating in a report on Friday, July 31st. Sanford C. Bernstein increased their target price on shares of Ferrari from $402.00 to $460.00 and gave the company an “outperform” rating in a report on Friday, July 31st. UBS Group reduced their price target on shares of Ferrari from $497.00 to $490.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Evercore reissued an “outperform” rating and set a $485.00 price target on shares of Ferrari in a research note on Friday, July 31st. Finally, Citigroup restated a “neutral” rating on shares of Ferrari in a report on Monday, August 3rd. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $477.15.

Ferrari Trading Up 0.7%

NYSE:RACE opened at $428.14 on Friday. The company has a market capitalization of $100.16 billion, a PE ratio of 39.75, a price-to-earnings-growth ratio of 3.65 and a beta of 0.91. 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 52-week low of $312.51 and a 52-week high of $504.49. The stock has a fifty day simple moving average of $383.03 and a 200-day simple moving average of $359.68.

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