Rothschild Investment LLC Makes New $29,000 Investment in Ferrari (NYSE:RACE)

Rothschild Investment LLC acquired a new stake in shares of Ferrari (NYSE:RACE) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 71 shares of the company’s stock, valued at approximately $29,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Ferrari during the fourth quarter worth about $572,523,000. Capital International Investors grew its stake in shares of Ferrari by 314.3% in the 1st quarter. Capital International Investors now owns 1,043,423 shares of the company’s stock worth $454,792,000 after buying an additional 791,596 shares during the last quarter. Clearbridge Investments LLC increased its position in Ferrari by 6,024.9% during the 1st quarter. Clearbridge Investments LLC now owns 380,910 shares of the company’s stock valued at $166,054,000 after buying an additional 374,691 shares in the last quarter. Capital World Investors raised its stake in Ferrari by 34.3% during the first quarter. Capital World Investors now owns 962,583 shares of the company’s stock valued at $419,547,000 after buying an additional 245,872 shares during the last quarter. Finally, Capital International Inc. CA boosted its holdings in Ferrari by 207.3% in the first quarter. Capital International Inc. CA now owns 237,277 shares of the company’s stock worth $103,419,000 after acquiring an additional 160,055 shares in the last quarter.

Ferrari Trading Down 1.3 %

RACE opened at $470.97 on Friday. The company’s 50 day moving average is $441.74 and its 200 day moving average is $426.27. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.35 and a quick ratio of 3.32. Ferrari has a 12-month low of $285.02 and a 12-month high of $498.23.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Thursday, August 1st. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.21 by $0.08. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.63 billion. Ferrari had a return on equity of 45.13% and a net margin of 21.84%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.99 earnings per share. As a group, equities analysts expect that Ferrari will post 8.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RACE has been the subject of several analyst reports. Morgan Stanley raised their price target on Ferrari from $400.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, August 2nd. UBS Group increased their target price on Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Jefferies Financial Group began coverage on Ferrari in a report on Friday, May 10th. They set a “hold” rating and a $403.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Ferrari has a consensus rating of “Moderate Buy” and an average target price of $481.67.

Ferrari Company 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.