Bessemer Group Inc. Purchases 304 Shares of Ferrari N.V. (NYSE:RACE)

Bessemer Group Inc. grew its position in shares of Ferrari N.V. (NYSE:RACE) by 3.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,885 shares of the company’s stock after buying an additional 304 shares during the period. Bessemer Group Inc.’s holdings in Ferrari were worth $3,802,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RACE. Park Square Financial Group LLC bought a new stake in shares of Ferrari during the fourth quarter worth about $32,000. Webster Bank N. A. bought a new stake in shares of Ferrari during the first quarter worth about $43,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Ferrari during the first quarter worth about $48,000. Plato Investment Management Ltd bought a new stake in shares of Ferrari during the fourth quarter worth about $53,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Ferrari by 60.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 148 shares of the company’s stock worth $63,000 after purchasing an additional 56 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Ferrari Price Performance

NYSE RACE opened at $491.22 on Friday. The company has a market cap of $119.06 billion, a PE ratio of 51.98, a price-to-earnings-growth ratio of 5.43 and a beta of 1.10. Ferrari N.V. has a 52 week low of $391.54 and a 52 week high of $509.13. The company has a quick ratio of 4.04, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The firm’s 50-day simple moving average is $474.35 and its two-hundred day simple moving average is $453.91.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.36 by $0.06. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.82 billion. Ferrari had a net margin of 23.00% and a return on equity of 46.46%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.95 earnings per share. Research analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current year.

About Ferrari

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.