Ferrari N.V. $RACE Position Lifted by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC increased its stake in Ferrari N.V. by 25.3% in Q1, owning a total of 4,629 shares valued at approximately $1.98 million.
• Ferrari exceeded analysts' earnings expectations for the most recent quarter, reporting an EPS of $2.70 compared to the forecast of $2.57, with a year-over-year revenue increase of 4.4%.
• Wall Street analysts have mixed ratings for Ferrari, with seven analysts giving it a Buy rating; the stock has a current consensus rating of Moderate Buy and a target price of $531.67.

NewEdge Advisors LLC boosted its position in Ferrari N.V. (NYSE:RACE - Free Report) by 25.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,629 shares of the company's stock after purchasing an additional 935 shares during the quarter. NewEdge Advisors LLC's holdings in Ferrari were worth $1,981,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. GW&K Investment Management LLC grew its stake in shares of Ferrari by 288.9% in the 1st quarter. GW&K Investment Management LLC now owns 70 shares of the company's stock worth $30,000 after purchasing an additional 52 shares during the last quarter. Park Square Financial Group LLC purchased a new position in Ferrari in the fourth quarter valued at about $32,000. Alpine Bank Wealth Management bought a new stake in shares of Ferrari during the 1st quarter worth about $33,000. Brooklyn Investment Group raised its position in shares of Ferrari by 381.3% in the first quarter. Brooklyn Investment Group now owns 77 shares of the company's stock valued at $33,000 after purchasing an additional 61 shares during the period. Finally, Webster Bank N. A. acquired a new stake in Ferrari in the 1st quarter valued at approximately $43,000.

Ferrari Stock Up 1.3%

Shares of NYSE RACE opened at $479.62 on Friday. 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 N.V. has a 52 week low of $391.54 and a 52 week high of $519.10. The stock has a market capitalization of $116.25 billion, a P/E ratio of 49.50, a PEG ratio of 5.40 and a beta of 1.10. The stock's fifty day moving average is $478.63 and its 200 day moving average is $466.38.

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 company had revenue of $2.12 billion for the quarter, compared to analysts' expectations of $2.05 billion. During the same quarter last year, the business earned $2.29 earnings per share. Ferrari's revenue was up 4.4% on a year-over-year basis. Ferrari has set its FY 2025 guidance at 9.751- EPS. Sell-side analysts forecast that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RACE has been the topic of several analyst reports. Cfra Research lowered shares of Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. Zacks Research cut Ferrari from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 29th. Wall Street Zen downgraded Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft raised Ferrari from a "hold" rating to a "buy" rating in a research report on Tuesday, September 2nd. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Ferrari 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.

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