Baird Financial Group Inc. Has $3.90 Million Stock Position in Ferrari N.V. $RACE

Key Points

• Baird Financial Group Inc. has reduced its position in Ferrari N.V. by 28.2%, owning 9,104 shares valued at $3.9 million following the sale of 3,574 shares.
• Ferrari's quarterly earnings exceeded expectations, reporting $2.70 EPS and $2.12 billion in revenue, which was a 4.4% increase year-over-year.
• Analyst ratings are mixed, with seven analystsZacks and Wall Street Zen downgraded the stock to "Hold".

Baird Financial Group Inc. lessened its position in Ferrari N.V. (NYSE:RACE - Free Report) by 28.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,104 shares of the company's stock after selling 3,574 shares during the period. Baird Financial Group Inc.'s holdings in Ferrari were worth $3,895,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RACE. Vanguard Group Inc. boosted its stake 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 valued at $2,165,683,000 after purchasing an additional 377,929 shares in the last quarter. Bank of Italy boosted its stake in shares of Ferrari by 2.9% during the first quarter. Bank of Italy now owns 2,407,271 shares of the company's stock valued at $1,021,078,000 after purchasing an additional 67,651 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Ferrari by 52.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company's stock valued at $974,332,000 after purchasing an additional 781,587 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 valued at $779,661,000 after purchasing an additional 25,883 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Ferrari by 2.0% during the first quarter. Bank of New York Mellon Corp now owns 1,644,415 shares of the company's stock valued at $703,612,000 after purchasing an additional 32,307 shares in the last quarter.

Ferrari Trading Down 1.9%

RACE stock traded down $9.48 during midday trading on Monday, hitting $479.29. The stock had a trading volume of 464,359 shares, compared to its average volume of 327,287. The firm has a market cap of $116.17 billion, a P/E ratio of 49.46, a price-to-earnings-growth ratio of 5.57 and a beta of 1.09. The company has a current ratio of 5.09, a quick ratio of 3.94 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 fifty day moving average price of $479.38 and a two-hundred day moving average price of $466.37.

Ferrari (NYSE:RACE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.70 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the firm earned $2.29 earnings per share. The company's revenue was up 4.4% compared to the same quarter last year. Ferrari has set its FY 2025 guidance at 9.751- EPS. On average, sell-side analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RACE. Citigroup reissued a "sell" rating on shares of Ferrari in a research note on Monday, August 11th. Royal Bank Of Canada restated an "outperform" rating on shares of Ferrari in a report on Monday, August 4th. Zacks Research downgraded Ferrari from a "strong-buy" rating to a "hold" rating in a report on Friday, August 29th. Wall Street Zen downgraded Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Cfra Research downgraded Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus 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.