Sanctuary Advisors LLC Takes $3.56 Million Position in Ferrari N.V. $RACE

Sanctuary Advisors LLC bought a new stake in shares of Ferrari N.V. (NYSE:RACE) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,585 shares of the company’s stock, valued at approximately $3,556,000.

Other large investors have also bought and sold shares of the company. Fideuram Asset Management Ireland dac purchased a new position in shares of Ferrari in the fourth quarter worth $29,000. Entrust Financial LLC bought a new stake in Ferrari during the 4th quarter valued at $33,000. Bamco Inc. NY boosted its position in Ferrari by 790.9% during the 4th quarter. Bamco Inc. NY now owns 98 shares of the company’s stock valued at $36,000 after buying an additional 87 shares during the period. Bellevue Asset Management LLC bought a new stake in Ferrari in the 1st quarter worth $34,000. Finally, Dunhill Financial LLC purchased a new position in shares of Ferrari in the second quarter valued at about $38,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RACE shares. UBS Group lowered their price objective on shares of Ferrari from $497.00 to $490.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Evercore reissued an “outperform” rating and issued a $485.00 target price on shares of Ferrari in a research note on Friday, July 31st. Wolfe Research started coverage on Ferrari in a research report on Tuesday, July 7th. They set an “outperform” rating for the company. Sanford C. Bernstein upped their price target on Ferrari from $402.00 to $460.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, Citigroup reiterated a “neutral” rating on shares of Ferrari in a research report on Monday, August 3rd. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $477.15.

Ferrari Stock Performance

Shares of RACE stock opened at $421.86 on Wednesday. Ferrari N.V. has a 12 month low of $312.51 and a 12 month high of $504.49. The stock has a market cap of $98.69 billion, a PE ratio of 39.17, a price-to-earnings-growth ratio of 3.65 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. The company’s fifty day moving average price is $386.88 and its 200-day moving average price is $361.63.

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

About Ferrari

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.