Ferrari (NYSE:RACE) Now Covered by Berenberg Bank

Key Points

• Berenberg Bank has initiated coverage of Ferrari (NYSE:RACE) with a "buy" rating, highlighting the stock's favorable position in the market.
• Ferrari reported a quarterly EPS of $2.70, exceeding analysts' expectations, with revenues of $2.12 billion, marking a 4.4% year-over-year increase.
• Analyst consensus shows a Moderate Buy rating with a target price of $531.67, indicating positive market sentiment towards Ferrari's future performance.

Stock analysts at Berenberg Bank assumed coverage on shares of Ferrari (NYSE:RACE - Get Free Report) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm set a "buy" rating on the stock.

A number of other equities analysts also recently commented on RACE. UBS Group lifted their price objective on shares of Ferrari from $540.00 to $570.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Zacks Research downgraded shares of Ferrari from a "strong-buy" rating to a "hold" rating in a report on Friday, August 29th. Cfra Research downgraded shares of Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a report on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Ferrari from a "hold" rating to a "buy" rating in a report on Tuesday, September 2nd. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $531.67.

Ferrari Stock Performance

Ferrari stock opened at $478.42 on Tuesday. The company has a market cap of $115.96 billion, a PE ratio of 49.37, a P/E/G ratio of 5.45 and a beta of 1.09. The company has a fifty day moving average price of $478.22 and a two-hundred day moving average price of $466.25. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. Ferrari has a 12 month low of $391.54 and a 12 month high of $519.10.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.70 EPS for the quarter, topping analysts' consensus estimates of $2.57 by $0.13. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.05 billion. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The firm's revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. Research analysts expect that Ferrari will post 9.22 earnings per share for the current year.

Institutional Investors Weigh In On Ferrari

Several institutional investors have recently bought and sold shares of RACE. Bridgewater Advisors Inc. bought a new stake in Ferrari in the first quarter worth about $492,000. Zurich Insurance Group Ltd FI raised its position in Ferrari by 13.2% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 79,796 shares of the company's stock worth $34,042,000 after acquiring an additional 9,274 shares in the last quarter. Thoroughbred Financial Services LLC raised its position in Ferrari by 39.7% in the first quarter. Thoroughbred Financial Services LLC now owns 10,286 shares of the company's stock worth $4,401,000 after acquiring an additional 2,925 shares in the last quarter. Banco Santander S.A. raised its position in Ferrari by 35.3% in the first quarter. Banco Santander S.A. now owns 560,999 shares of the company's stock worth $240,040,000 after acquiring an additional 146,279 shares in the last quarter. Finally, Callan Family Office LLC raised its position in Ferrari by 146.3% in the first quarter. Callan Family Office LLC now owns 2,763 shares of the company's stock worth $1,182,000 after acquiring an additional 1,641 shares in the last quarter.

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.

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