American Trust Reduces Position in Ferrari N.V. $RACE

Key Points

• American Trust has reduced its holdings in Ferrari N.V. by 30.8% during the first quarter, now owning 1,678 shares valued at approximately $718,000.
• Several institutional investors, including GW&K Investment Management, have made significant changes to their positions in Ferrari, with some boosting their stakes by over 288%.
• Analysts have mixed views on Ferrari's stock, with a consensus rating of "Moderate Buy" and an average target price of $531.67, while some firms, including Cfra Research, have downgraded their ratings.

American Trust decreased its stake in Ferrari N.V. (NYSE:RACE - Free Report) by 30.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,678 shares of the company's stock after selling 747 shares during the quarter. American Trust's holdings in Ferrari were worth $718,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Goldman Sachs Group Inc. increased its stake in Ferrari by 52.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company's stock worth $974,332,000 after buying an additional 781,587 shares in the last quarter. Groupe la Francaise purchased a new position in shares of Ferrari in the first quarter valued at approximately $238,818,000. Nuveen LLC acquired a new stake in shares of Ferrari in the first quarter worth approximately $233,200,000. Vanguard Group Inc. increased its position in shares of Ferrari by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company's stock worth $2,165,683,000 after purchasing an additional 377,929 shares in the last quarter. Finally, Citigroup Inc. increased its position in shares of Ferrari by 155.1% during the first quarter. Citigroup Inc. now owns 269,862 shares of the company's stock worth $115,469,000 after purchasing an additional 164,092 shares in the last quarter.

Ferrari Trading Down 0.3%

RACE traded down $1.47 during mid-day trading on Friday, hitting $477.89. 158,669 shares of the stock were exchanged, compared to its average volume of 415,977. The firm's fifty day moving average is $478.63 and its two-hundred day moving average is $466.38. Ferrari N.V. has a 1-year low of $391.54 and a 1-year high of $519.10. 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 company has a market cap of $115.83 billion, a PE ratio of 49.32, a PEG ratio of 5.40 and a beta of 1.10.

Ferrari (NYSE:RACE - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the prior year, the company earned $2.29 EPS. Ferrari's revenue was up 4.4% on a year-over-year basis. Ferrari has set its FY 2025 guidance at 9.751- EPS. Equities analysts forecast that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RACE shares. Cfra Research lowered Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. Zacks Research cut shares of Ferrari from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 29th. Royal Bank Of Canada restated an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a report on Tuesday, September 2nd. Finally, Citigroup reaffirmed a "sell" rating on shares of Ferrari in a report on Monday, August 11th. Seven equities research 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $531.67.

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.