Segment Wealth Management LLC Buys Shares of 5,524 Ferrari N.V. (NYSE:RACE)

Segment Wealth Management LLC purchased a new stake in shares of Ferrari N.V. (NYSE:RACE) in the first quarter, according to its most recent filing with the SEC. The firm purchased 5,524 shares of the company’s stock, valued at approximately $2,364,000.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in shares of Ferrari in the fourth quarter valued at $697,226,000. Price T Rowe Associates Inc. MD grew its stake in Ferrari by 49.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company’s stock valued at $763,125,000 after acquiring an additional 594,547 shares during the last quarter. Barclays PLC increased its holdings in Ferrari by 198.0% during the 4th quarter. Barclays PLC now owns 853,971 shares of the company’s stock valued at $362,802,000 after acquiring an additional 567,407 shares in the last quarter. Marshall Wace LLP raised its position in Ferrari by 62.1% during the fourth quarter. Marshall Wace LLP now owns 1,358,467 shares of the company’s stock worth $579,561,000 after acquiring an additional 520,337 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Ferrari by 380.7% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company’s stock valued at $107,770,000 after purchasing an additional 192,694 shares in the last quarter.

Ferrari Price Performance

RACE opened at $460.80 on Friday. Ferrari N.V. has a 1 year low of $391.54 and a 1 year high of $509.13. The company’s 50 day simple moving average is $469.76 and its 200 day simple moving average is $452.91. The stock has a market capitalization of $111.69 billion, a PE ratio of 48.76, a P/E/G ratio of 5.35 and a beta of 1.10. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.04 and a current ratio of 5.09.

Ferrari (NYSE:RACE) last issued its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.06. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the firm earned $1.95 earnings per share. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, sell-side analysts expect that Ferrari N.V. will post 9.22 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on RACE. Wall Street Zen lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. JPMorgan Chase & Co. reduced their price objective on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. UBS Group lifted their target price on shares of Ferrari from $520.00 to $560.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Finally, Kepler Capital Markets upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $526.25.

Ferrari Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.