Acadian Asset Management LLC Purchases 6,928 Shares of Ferrari N.V. $RACE

Key Points

• Acadian Asset Management LLC has increased its stake in Ferrari N.V. by 151.9%, owning a total of 11,488 shares valued at approximately $4.86 million.
• Ferrari's latest earnings report showed an EPS of $2.70, exceeding analysts' expectations and indicating a 4.4% revenue growth year-over-year.
• Currently, seven analysts rate Ferrari's stock as a Buy, with a consensus target price of $531.67.

Acadian Asset Management LLC increased its position in Ferrari N.V. (NYSE:RACE - Free Report) by 151.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,488 shares of the company's stock after buying an additional 6,928 shares during the quarter. Acadian Asset Management LLC's holdings in Ferrari were worth $4,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Sound View Wealth Advisors Group LLC grew its stake in Ferrari by 1.0% in the first quarter. Sound View Wealth Advisors Group LLC now owns 2,198 shares of the company's stock worth $940,000 after purchasing an additional 21 shares during the period. Garde Capital Inc. grew its stake in Ferrari by 5.0% in the fourth quarter. Garde Capital Inc. now owns 525 shares of the company's stock worth $223,000 after purchasing an additional 25 shares during the period. Rehmann Capital Advisory Group grew its stake in Ferrari by 3.9% in the first quarter. Rehmann Capital Advisory Group now owns 697 shares of the company's stock worth $299,000 after purchasing an additional 26 shares during the period. Aviso Financial Inc. grew its stake in Ferrari by 1.1% in the first quarter. Aviso Financial Inc. now owns 2,835 shares of the company's stock worth $1,213,000 after purchasing an additional 30 shares during the period. Finally, Gordian Capital Singapore Pte Ltd grew its stake in Ferrari by 42.9% in the first quarter. Gordian Capital Singapore Pte Ltd now owns 100 shares of the company's stock worth $43,000 after purchasing an additional 30 shares during the period.

Ferrari Stock Performance

RACE traded up $14.53 during midday trading on Thursday, reaching $484.56. The company had a trading volume of 365,502 shares, compared to its average volume of 288,965. 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 N.V. has a 1 year low of $391.54 and a 1 year high of $519.10. The business has a 50-day moving average of $477.36 and a two-hundred day moving average of $466.51. The company has a market cap of $117.45 billion, a P/E ratio of 50.01, a P/E/G ratio of 5.36 and a beta of 1.10.

Ferrari (NYSE:RACE - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.13. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The firm had revenue of $2.12 billion during the quarter, compared to analysts' expectations of $2.05 billion. During the same quarter last year, the business posted $2.29 earnings per share. The firm's 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, equities research analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Berenberg Bank assumed coverage on Ferrari in a research note on Tuesday. They issued a "buy" rating on the stock. Zacks Research cut Ferrari from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 29th. Deutsche Bank Aktiengesellschaft raised Ferrari from a "hold" rating to a "buy" rating in a report on Tuesday, September 2nd. UBS Group boosted their target price on Ferrari from $540.00 to $570.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Finally, Citigroup reissued a "sell" rating on shares of Ferrari in a report on Monday, August 11th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $531.67.

Ferrari Profile

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.