132,390 Shares in Ferrari N.V. $RACE Acquired by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec acquired a new stake in Ferrari N.V. (NYSE:RACE) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 132,390 shares of the company’s stock, valued at approximately $49,094,000.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in shares of Ferrari in the 2nd quarter worth $952,874,000. Norges Bank bought a new position in shares of Ferrari during the fourth quarter valued at $779,894,000. Deutsche Bank AG bought a new stake in Ferrari in the 2nd quarter worth about $413,209,000. The Manufacturers Life Insurance Company bought a new stake in Ferrari in the 2nd quarter worth about $388,816,000. Finally, Legal & General Group Plc purchased a new position in Ferrari in the 2nd quarter worth about $322,208,000.

Analyst Ratings Changes

Several research firms have issued reports on RACE. Citigroup restated a “neutral” rating on shares of Ferrari in a research note on Monday, August 3rd. Needham & Company LLC raised shares of Ferrari to a “neutral” rating in a report on Friday, July 31st. Morgan Stanley restated an “overweight” rating and set a $442.00 price objective on shares of Ferrari in a research report on Friday, July 31st. Wolfe Research initiated coverage on shares of Ferrari in a report on Tuesday, July 7th. They issued an “outperform” rating on the stock. Finally, Sanford C. Bernstein lifted their target price on shares of Ferrari from $402.00 to $460.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $477.15.

Ferrari Trading Up 0.2%

Ferrari stock opened at $413.79 on Friday. The business has a 50-day simple moving average of $389.07 and a two-hundred day simple moving average of $362.74. The company has a market cap of $96.81 billion, a P/E ratio of 38.42, a P/E/G ratio of 3.55 and a beta of 0.91. Ferrari N.V. has a 52-week low of $312.51 and a 52-week high of $504.49. 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 (NYSE:RACE) last issued its quarterly earnings data on Friday, July 31st. The company reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.16. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Ferrari had a net margin of 22.29% and a return on equity of 42.83%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.38 EPS. Analysts predict that Ferrari N.V. will post 11.18 EPS for the current 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.