Amundi Boosts Stock Holdings in Ferrari N.V. $RACE

Amundi grew its stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 3.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,060,265 shares of the company's stock after buying an additional 101,906 shares during the quarter. Amundi owned 1.31% of Ferrari worth $1,139,306,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of RACE. Bank of New York Mellon Corp purchased a new stake in shares of Ferrari during the second quarter valued at approximately $952,874,000. Norges Bank bought a new stake in Ferrari during the 4th quarter valued at $779,894,000. Deutsche Bank AG bought a new stake in Ferrari during the 2nd quarter valued at $413,209,000. The Manufacturers Life Insurance Company purchased a new stake in Ferrari during the 2nd quarter valued at $388,816,000. Finally, Legal & General Group Plc purchased a new stake in Ferrari during the 2nd quarter valued at $322,208,000.

Ferrari Stock Performance

NYSE:RACE opened at $409.90 on Monday. Ferrari N.V. has a fifty-two week low of $312.51 and a fifty-two week high of $504.49. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.70 and a current ratio of 4.85. The stock's fifty day moving average is $396.45 and its 200 day moving average is $364.60. The firm has a market capitalization of $95.90 billion, a PE ratio of 38.06, a PEG ratio of 3.52 and a beta of 0.92.

Ferrari (NYSE:RACE - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.16. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.14 billion. Ferrari had a net margin of 22.29% and a return on equity of 42.83%. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.38 earnings per share. On average, sell-side analysts anticipate that Ferrari N.V. will post 11.18 earnings per share for the current year.

Ferrari News Roundup

Here are the key news stories impacting Ferrari this week:

• Positive Sentiment: Brokerages have assigned Ferrari a consensus price target of $477.15, suggesting meaningful potential upside from recent trading levels and continued confidence in the company’s earnings outlook. Ferrari N.V. Receives $477.15 Consensus Target Price from Brokerages
• Positive Sentiment: Ferrari remains positioned to influence the World Endurance Championship title race, providing additional global exposure for the brand and reinforcing its motorsport credentials. Ferrari poised to play spoiler as WEC title race heats up
• Neutral Sentiment: Coverage of Ferrari’s F8 competing against a Porsche 992 Turbo S highlights the performance appeal of its products, though the informal drag race is unlikely to have a material financial impact. Ferrari F8 faces Porsche 992 Turbo S in drag race
• Neutral Sentiment: Ferrari’s Monza starting lineup and reports of relief despite missing pole provide visibility at the company’s home race, but offer limited direct information about Ferrari N.V.’s financial performance. Formula 1 starting lineup for race in Monza Ferrari at the Monza home race
• Negative Sentiment: Charles Leclerc’s heavy crash and retirement from the Italian Grand Prix produced unfavorable headlines and spoiled Ferrari’s home-race result, potentially weakening near-term brand and team sentiment. Charles Leclerc out of Italian Grand Prix after crash Ferrari catastrophic start at home race
• Negative Sentiment: Commentary describing Ferrari’s “vintage disaster-class” and Lewis Hamilton’s frustration reinforces concerns about execution and competitiveness, adding to the negative F1 narrative. Ferrari’s vintage disaster-class at Italian GP Lewis Hamilton frustration explained

Analysts Set New Price Targets

RACE has been the topic of a number of analyst reports. Needham & Company LLC upgraded shares of Ferrari to a "neutral" rating in a research report on Friday, July 31st. UBS Group decreased their price objective on shares of Ferrari from $497.00 to $490.00 and set a "buy" rating for the company in a report on Friday, July 31st. Sanford C. Bernstein boosted their price objective on shares of Ferrari from $402.00 to $460.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Wolfe Research assumed coverage on shares of Ferrari in a research report on Tuesday, July 7th. They set an "outperform" rating for the company. Finally, Morgan Stanley restated an "overweight" rating and issued a $442.00 target price on shares of Ferrari in a report on Friday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $477.15.

Ferrari Profile

Ferrari N.V. NYSE: RACE is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company's core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.

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