Ethic Inc. Has $474,000 Holdings in Ferrari N.V. $RACE

Key Points

• Ethic Inc. has significantly reduced its holdings in Ferrari N.V. by 65.6% during the first quarter, leaving them with 1,101 shares valued at $474,000.
• Several institutional investors have recently increased their stakes in Ferrari, with GW&K Investment Management lifting its stake by 288.9% in the same quarter.
• Analysts have mixed opinions on Ferrari's stock; while Royal Bank of Canada maintained an "outperform" rating, Citigroup issued a "sell" rating, leading to an overall consensus rating of "Moderate Buy" with a target price of $526.25.

Ethic Inc. cut its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 65.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,101 shares of the company's stock after selling 2,096 shares during the quarter. Ethic Inc.'s holdings in Ferrari were worth $474,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. GW&K Investment Management LLC lifted its stake in Ferrari by 288.9% in the first quarter. GW&K Investment Management LLC now owns 70 shares of the company's stock valued at $30,000 after buying an additional 52 shares during the period. Park Square Financial Group LLC acquired a new position in Ferrari in the fourth quarter valued at approximately $32,000. Alpine Bank Wealth Management acquired a new position in Ferrari in the first quarter valued at approximately $33,000. Webster Bank N. A. acquired a new position in Ferrari in the first quarter valued at approximately $43,000. Finally, Centerpoint Advisors LLC acquired a new position in Ferrari in the first quarter valued at approximately $43,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RACE shares. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. UBS Group upped their target price on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Citigroup reaffirmed a "sell" rating on shares of Ferrari in a research report on Monday, August 11th. Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Cfra Research lowered Ferrari from a "hold" rating to a "moderate sell" rating in a research report on Thursday, July 31st. Seven research 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $526.25.

Ferrari Trading Down 0.4%

Shares of Ferrari stock opened at $466.3290 on Friday. The stock has a fifty day simple moving average of $476.81 and a 200 day simple moving average of $466.85. Ferrari N.V. has a 12-month low of $391.54 and a 12-month high of $519.10. The company has a market capitalization of $113.03 billion, a P/E ratio of 48.12, a price-to-earnings-growth ratio of 5.06 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 (NYSE:RACE - Get Free Report) last announced its quarterly earnings results 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. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the company posted $2.29 earnings per share. Ferrari'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 anticipate that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

About Ferrari

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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