Engineers Gate Manager LP boosted its position in Ferrari N.V. (NYSE:RACE - Free Report) by 139.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,514 shares of the company's stock after purchasing an additional 11,352 shares during the quarter. Engineers Gate Manager LP's holdings in Ferrari were worth $7,233,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Fideuram Asset Management Ireland dac acquired a new position in shares of Ferrari during the 4th quarter valued at about $29,000. Entrust Financial LLC purchased a new stake in Ferrari in the fourth quarter valued at approximately $33,000. Bellevue Asset Management LLC acquired a new position in Ferrari during the first quarter worth approximately $34,000. Bamco Inc. NY raised its stake in Ferrari by 790.9% during the fourth quarter. Bamco Inc. NY now owns 98 shares of the company's stock worth $36,000 after purchasing an additional 87 shares during the period. Finally, Dunhill Financial LLC acquired a new position in shares of Ferrari in the 2nd quarter valued at $38,000.
Analysts Set New Price Targets
Several research analysts recently weighed in on RACE shares. Wolfe Research began coverage on Ferrari in a research report on Tuesday, July 7th. They issued an "outperform" rating on the stock. Morgan Stanley restated an "overweight" rating and issued a $460.00 price objective on shares of Ferrari in a report on Thursday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Ferrari in a research note on Wednesday, July 8th. Sanford C. Bernstein boosted their target price on Ferrari from $402.00 to $460.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Finally, UBS Group dropped their target price on shares of Ferrari from $497.00 to $490.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $478.79.
View Our Latest Stock Report on RACE
Ferrari Stock Performance
Shares of Ferrari stock opened at $413.70 on Friday. The firm has a market cap of $96.78 billion, a PE ratio of 38.41, a price-to-earnings-growth ratio of 3.51 and a beta of 0.92. The firm's 50-day simple moving average is $399.51 and its 200-day simple moving average is $366.01. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.70 and a current ratio of 4.85. Ferrari N.V. has a 1 year low of $312.51 and a 1 year high of $504.49.
Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.16. Ferrari had a return on equity of 42.83% and a net margin of 22.29%.The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the company posted $2.38 EPS. The business's revenue was up 8.4% compared to the same quarter last year. Equities analysts forecast that Ferrari N.V. will post 11.18 earnings per share for the current fiscal year.
About Ferrari
(
Free Report)
Ferrari N.V. is an Italian luxury automotive company headquartered in Maranello, Italy. The company designs, develops, manufactures and sells high-performance sports cars, grand touring vehicles, supercars and limited-edition models under the Ferrari brand.
Ferrari's business includes vehicle personalization, after-sales services, replacement parts and accessories, as well as branded merchandise, licensing and retail activities. The company also supports its brand through customer experiences, events and the Ferrari racing business, including its long-standing participation in Formula One.
Ferrari traces its origins to Enzo Ferrari, who established Auto Avio Costruzioni in 1939 before producing its first Ferrari-badged car in 1947.
Further Reading
Want to see what other hedge funds are holding RACE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferrari N.V. (NYSE:RACE - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Ferrari, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ferrari wasn't on the list.
While Ferrari currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we’ll send you MarketBeat’s list of ten stocks set to soar in Fall 2026, despite the economic uncertainty rattling markets right now. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Like this article? Share it with a colleague.
Link copied to clipboard.
