Alliancebernstein L.P. Increases Stock Holdings in Ferrari N.V. $RACE

Key Points

• Alliancebernstein L.P. has increased its ownership of Ferrari N.V. by 8.1%, acquiring an additional 131,945 shares to reach a total of 1,767,337 shares, valued at approximately $756 million.
• Ferrari reported $2.70 earnings per share for the last quarter, surpassing estimates by $0.13, with revenue rising 4.4% year-over-year to $2.12 billion.
• Despite varied ratings from analysts, including a recent buy upgrade from Deutsche Bank and a price target increase by UBS Group, the consensus rating remains at "Moderate Buy" with a price target of $528.33.

Alliancebernstein L.P. increased its holdings in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 8.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,767,337 shares of the company's stock after buying an additional 131,945 shares during the period. Alliancebernstein L.P. owned about 0.73% of Ferrari worth $756,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RACE. GW&K Investment Management LLC lifted its position in shares of Ferrari by 288.9% during the 1st quarter. GW&K Investment Management LLC now owns 70 shares of the company's stock valued at $30,000 after buying an additional 52 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of Ferrari during the 4th quarter valued at approximately $32,000. Alpine Bank Wealth Management purchased a new position in shares of Ferrari during the 1st quarter valued at approximately $33,000. Brooklyn Investment Group lifted its position in shares of Ferrari by 381.3% during the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company's stock valued at $33,000 after buying an additional 61 shares in the last quarter. Finally, Webster Bank N. A. purchased a new position in shares of Ferrari during the 1st quarter valued at approximately $43,000.

Ferrari Trading Up 3.0%

Shares of RACE stock opened at $491.37 on Wednesday. The company's 50-day moving average price is $478.88 and its 200-day moving average price is $467.04. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89. The stock has a market cap of $119.10 billion, a price-to-earnings ratio of 50.71, a PEG ratio of 5.44 and a beta of 1.10. Ferrari N.V. has a twelve month low of $391.54 and a twelve month high of $519.10.

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

Wall Street Analysts Forecast Growth

RACE has been the topic of a number of research reports. Royal Bank Of Canada restated an "outperform" rating on shares of Ferrari in a report on Monday, August 4th. Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. UBS Group raised their price objective on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Citigroup restated a "sell" rating on shares of Ferrari in a report on Monday, August 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Tuesday. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $528.33.

Ferrari Company 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.

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