Ferrari (NYSE:RACE) Sees Large Volume Increase - Time to Buy?

Key Points

• Ferrari experienced a significant increase in trading volume, with approximately 547,617 shares traded, marking a 26% rise from the previous session.
• Wall Street analysts have mixed ratings for Ferrari, with ten analysts rating it a "Buy" and two a "Strong Buy", while also noting a consensus target price of $519.83.
• The company's recent quarterly earnings showed a 4.4% year-over-year revenue growth with reported earnings per share (EPS) of $2.70, surpassing analyst estimates.

Ferrari N.V. (NYSE:RACE - Get Free Report) saw unusually-high trading volume on Friday . Approximately 547,617 shares were traded during mid-day trading, an increase of 26% from the previous session's volume of 434,259 shares.The stock last traded at $406.00 and had previously closed at $407.38.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Berenberg Bank set a $570.00 price target on shares of Ferrari in a report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Tuesday, September 2nd. Cfra Research lowered Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. HSBC upgraded Ferrari from a "hold" rating to a "buy" rating and set a $470.00 price objective on the stock in a report on Thursday, October 2nd. Finally, Hsbc Global Res upgraded Ferrari from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $519.83.

Ferrari Stock Performance

The company has a market capitalization of $97.44 billion, a price-to-earnings ratio of 41.51, a P/E/G ratio of 3.86 and a beta of 1.08. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.94 and a current ratio of 5.09. The firm has a 50-day simple moving average of $471.50 and a two-hundred day simple moving average of $469.93.

Ferrari (NYSE:RACE - Get Free Report) last announced 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. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the company posted $2.29 earnings per share. The business's revenue for the quarter was up 4.4% on a year-over-year basis. Ferrari has set its FY 2025 guidance at 9.751- EPS. On average, sell-side analysts anticipate that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Ferrari

Institutional investors have recently added to or reduced their stakes in the business. Bridgewater Advisors Inc. purchased a new stake in Ferrari during the first quarter worth approximately $492,000. Thoroughbred Financial Services LLC raised its stake in shares of Ferrari by 39.7% during the first quarter. Thoroughbred Financial Services LLC now owns 10,286 shares of the company's stock worth $4,401,000 after purchasing an additional 2,925 shares during the last quarter. Banco Santander S.A. raised its stake in shares of Ferrari by 35.3% during the first quarter. Banco Santander S.A. now owns 560,999 shares of the company's stock worth $240,040,000 after purchasing an additional 146,279 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its stake in shares of Ferrari by 75.1% during the first quarter. Dynamic Technology Lab Private Ltd now owns 3,580 shares of the company's stock worth $1,532,000 after purchasing an additional 1,535 shares during the last quarter. Finally, Callan Family Office LLC raised its stake in shares of Ferrari by 146.3% during the first quarter. Callan Family Office LLC now owns 2,763 shares of the company's stock worth $1,182,000 after purchasing an additional 1,641 shares during 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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