Canada Pension Plan Investment Board Grows Position in Ferrari N.V. $RACE

Key Points

• The Canada Pension Plan Investment Board significantly increased its stake in Ferrari N.V. by 351.5%, owning approximately 186,832 shares valued at $79.3 million after purchasing an additional 145,452 shares in Q1.
• Ferrari reported a quarterly EPS of $2.70, exceeding estimates, with revenue of $2.12 billion, marking a 4.4% year-over-year increase.
• Wall Street analysts have mixed ratings on Ferrari, with a majority rating it buy and setting an average target price of $528.33.

Canada Pension Plan Investment Board raised its position in Ferrari N.V. (NYSE:RACE - Free Report) by 351.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 186,832 shares of the company's stock after purchasing an additional 145,452 shares during the period. Canada Pension Plan Investment Board owned 0.08% of Ferrari worth $79,335,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RACE. Vanguard Group Inc. lifted its stake in shares of Ferrari by 8.1% in the 1st 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 during the last quarter. Bank of Italy lifted its stake in shares of Ferrari by 2.9% in the 1st 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 during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Ferrari by 52.3% in the 1st 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 during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Ferrari by 1.4% in the 1st 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 during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Ferrari by 2.0% in the 1st 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 during the last quarter.

Ferrari Price Performance

RACE stock traded up $2.20 during midday trading on Wednesday, hitting $494.28. 250,206 shares of the stock were exchanged, compared to its average volume of 420,423. The stock's 50-day moving average price is $478.88 and its 200-day moving average price is $467.04. The stock has a market cap of $119.80 billion, a price-to-earnings ratio of 51.01, a PEG ratio of 5.44 and a beta of 1.10. Ferrari N.V. has a fifty-two week low of $391.54 and a fifty-two week high of $519.10. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.94 and a current ratio of 5.09.

Ferrari (NYSE:RACE - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $2.12 billion during the quarter, compared to analysts' expectations of $2.05 billion. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.Ferrari's revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. Research analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Zacks Research lowered Ferrari from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 29th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ferrari in a report on Monday, August 4th. Cfra Research downgraded Ferrari from a "hold" rating to a "moderate sell" rating in a research note on Thursday, July 31st. Wall Street Zen cut Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Deutsche Bank Aktiengesellschaft raised Ferrari from a "hold" rating to a "buy" rating in a research report on Tuesday. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Ferrari presently has an average rating of "Moderate Buy" and an average price target 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.