733 Shares in Ferrari N.V. $RACE Bought by D.B. Root & Company LLC

Key Points

• D.B. Root & Company LLC has acquired 733 shares of Ferrari N.V., valued at approximately $359,000, marking the firm's first position in the company as reported in their Form 13F filing.
• Several other institutional investors have also increased their stakes in Ferrari, with GW&K Investment Management boosting its holdings by 288.9% and Brooklyn Investment Group increasing its position by 381.3% in the first quarter.
• Stock ratings for Ferrari vary, with HSBC and Deutsche Bank upgrading the company to a "buy" rating and a consensus price target of $528.80, while Zacks recently downgraded it to a "hold" rating.

D.B. Root & Company LLC bought a new position in Ferrari N.V. (NYSE:RACE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 733 shares of the company's stock, valued at approximately $359,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. GW&K Investment Management LLC boosted its holdings in shares of Ferrari by 288.9% in the first quarter. GW&K Investment Management LLC now owns 70 shares of the company's stock valued at $30,000 after acquiring an additional 52 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in Ferrari during the 1st quarter valued at $33,000. Brooklyn Investment Group boosted its position in Ferrari by 381.3% during the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company's stock worth $33,000 after acquiring an additional 61 shares during the period. GAMMA Investing LLC grew its position in Ferrari by 41.2% during the second quarter. GAMMA Investing LLC now owns 72 shares of the company's stock valued at $35,000 after purchasing an additional 21 shares in the last quarter. Finally, Centerpoint Advisors LLC acquired a new stake in Ferrari during the first quarter valued at $43,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RACE. HSBC raised Ferrari from a "hold" rating to a "buy" rating and set a $470.00 target price for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft upgraded Ferrari from a "hold" rating to a "buy" rating in a research note on Tuesday, September 2nd. Berenberg Bank set a $570.00 price target on Ferrari in a report on Friday. Weiss Ratings reissued a "buy (b)" rating on shares of Ferrari in a report on Saturday, September 27th. Finally, Zacks Research lowered shares of Ferrari from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Ferrari currently has a consensus rating of "Moderate Buy" and a consensus price target of $528.80.

Ferrari Stock Performance

Ferrari stock opened at $500.91 on Monday. The business's 50-day moving average price is $473.20 and its two-hundred day moving average price is $469.54. The stock has a market cap of $121.41 billion, a PE ratio of 51.69, a P/E/G ratio of 4.04 and a beta of 1.08. Ferrari N.V. has a 12-month low of $391.54 and a 12-month high of $519.10. The company has a quick ratio of 3.94, a current ratio of 5.09 and a debt-to-equity ratio of 0.89.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, beating 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 prior year, the business posted $2.29 earnings per share. Ferrari's quarterly revenue was up 4.4% on a year-over-year basis. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, analysts expect that Ferrari N.V. will post 9.22 earnings per share for the current fiscal 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.

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