Northwestern Mutual Wealth Management Co. Invests $20.23 Million in Ferrari N.V. $RACE

Northwestern Mutual Wealth Management Co. purchased a new stake in Ferrari N.V. (NYSE:RACE) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 54,327 shares of the company’s stock, valued at approximately $20,225,000.

A number of other institutional investors have also recently modified their holdings of RACE. Quantbot Technologies LP acquired a new position in Ferrari during the second quarter worth $74,000. X Square Capital LLC acquired a new stake in Ferrari in the second quarter valued at $1,399,000. William Blair Investment Management LLC acquired a new stake in Ferrari in the second quarter valued at $55,131,000. Korea Investment CORP purchased a new stake in shares of Ferrari during the 2nd quarter worth $83,570,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Ferrari during the 2nd quarter worth $214,000.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Sanford C. Bernstein increased their price target on shares of Ferrari from $402.00 to $460.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Evercore reissued an “outperform” rating and set a $485.00 price objective on shares of Ferrari in a report on Friday, July 31st. UBS Group lowered their target price on shares of Ferrari from $497.00 to $490.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Wolfe Research started coverage on shares of Ferrari in a report on Tuesday, July 7th. They issued an “outperform” rating for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ferrari in a research report on Wednesday, July 8th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Ferrari currently has a consensus rating of “Moderate Buy” and an average price target of $477.15.

Ferrari Trading Up 1.9%

Shares of RACE stock opened at $436.38 on Friday. Ferrari N.V. has a fifty-two week low of $312.51 and a fifty-two week high of $504.49. The stock has a market cap of $102.09 billion, a P/E ratio of 40.51, a P/E/G ratio of 3.75 and a beta of 0.91. The business has a fifty day simple moving average of $384.67 and a 200-day simple moving average of $360.22. 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 released its quarterly earnings results on Friday, July 31st. The company reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.16. Ferrari had a return on equity of 42.83% and a net margin of 22.29%.The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the company posted $2.38 EPS. The business’s revenue was up 8.4% on a year-over-year basis. On average, analysts forecast that Ferrari N.V. will post 11.18 earnings per share 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.