Hsbc Holdings PLC Has $75.32 Million Stake in Ferrari N.V. $RACE

Key Points

• Hsbc Holdings PLC significantly increased its stake in Ferrari N.V. by 245.0% during the first quarter, now holding 177,923 shares worth $75.3 million.
• Ferrari reported earnings of $2.70 per share for the last quarter, exceeding estimates, with a net margin of 22.95% and a year-over-year revenue increase of 4.4%.
• Analysts have mixed ratings for Ferrari, with some upgrading the stock to "buy" and others downgrading it to "sell," leading to a consensus rating of "Moderate Buy" and an average target price of $526.25.

Hsbc Holdings PLC grew its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 245.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 177,923 shares of the company's stock after purchasing an additional 126,358 shares during the period. Hsbc Holdings PLC owned about 0.07% of Ferrari worth $75,323,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Ferrari by 8.1% in the first quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company's stock worth $2,165,683,000 after buying an additional 377,929 shares during the last quarter. Bank of Italy increased its holdings in Ferrari by 2.9% in the first quarter. Bank of Italy now owns 2,407,271 shares of the company's stock worth $1,021,078,000 after buying an additional 67,651 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Ferrari by 52.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company's stock worth $974,332,000 after buying an additional 781,587 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Ferrari by 49.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock worth $763,125,000 after buying an additional 594,547 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Ferrari by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 1,644,415 shares of the company's stock worth $703,612,000 after buying an additional 32,307 shares during the last quarter.

Ferrari Stock Performance

Shares of RACE traded up $4.1790 during mid-day trading on Friday, hitting $471.1990. The company's stock had a trading volume of 319,786 shares, compared to its average volume of 603,656. Ferrari N.V. has a one year low of $391.54 and a one year 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. The firm has a market capitalization of $114.21 billion, a PE ratio of 48.63, a price-to-earnings-growth ratio of 5.09 and a beta of 1.09. The stock's 50-day moving average is $476.99 and its two-hundred day moving average is $466.95.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share 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 company had revenue of $2.12 billion during the quarter, compared to analysts' expectations of $2.05 billion. During the same period in the prior year, the business earned $2.29 earnings per share. Ferrari's revenue for the quarter was up 4.4% compared to the same quarter last year. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, sell-side analysts anticipate that Ferrari N.V. will post 9.22 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on RACE. Citigroup restated a "sell" rating on shares of Ferrari in a report on Monday, August 11th. Cfra Research downgraded Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. 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. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Finally, Wall Street Zen cut Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $526.25.

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.