Ascent Group LLC acquired a new stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 545 shares of the company's stock, valued at approximately $233,000.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in 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 during the last quarter. Bank of Italy lifted its stake in Ferrari by 2.9% during the first quarter. Bank of Italy now owns 2,407,271 shares of the company's stock worth $1,021,078,000 after purchasing an additional 67,651 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Ferrari by 52.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company's stock worth $974,332,000 after purchasing an additional 781,587 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Ferrari by 1.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,822,147 shares of the company's stock worth $779,661,000 after purchasing an additional 25,883 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Ferrari by 8.1% in the 1st quarter. Alliancebernstein L.P. now owns 1,767,337 shares of the company's stock valued at $756,208,000 after acquiring an additional 131,945 shares during the last quarter.
Ferrari Stock Down 2.2%
Shares of RACE stock traded down $10.39 during midday trading on Wednesday, reaching $469.94. 386,163 shares of the stock were exchanged, compared to its average volume of 413,761. Ferrari N.V. has a 1 year low of $391.54 and a 1 year high of $519.10. The company's 50 day moving average is $478.05 and its two-hundred day moving average is $466.34. 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 firm has a market cap of $113.90 billion, a PE ratio of 48.50, a price-to-earnings-growth ratio of 5.46 and a beta of 1.10.
Ferrari (NYSE:RACE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, topping 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 firm had revenue of $2.12 billion for the quarter, compared to analysts' expectations of $2.05 billion. During the same period in the previous year, the firm posted $2.29 EPS. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. Ferrari has set its FY 2025 guidance at 9.751- EPS. On average, equities research analysts predict that Ferrari N.V. will post 9.22 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a research note on Monday, August 4th. Zacks Research lowered Ferrari from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 29th. UBS Group boosted their target price on Ferrari from $540.00 to $570.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Berenberg Bank initiated coverage on Ferrari in a research note on Tuesday. They issued a "buy" rating for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Tuesday, September 2nd. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Ferrari currently has an average rating of "Moderate Buy" and a consensus price target of $531.67.
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About Ferrari
(
Free Report)
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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