Ameriprise Financial Inc. Has $240.60 Million Stock Position in Ferrari N.V. $RACE

Key Points

• Ameriprise Financial Inc. increased its stake in Ferrari N.V. by 5.4% during the first quarter, now owning approximately 0.23% of the company valued at $240.6 million.
• Ferrari's stock received a consensus rating of "Moderate Buy" from analysts, with seven holding a Buy rating and a price target increase from $520 to $560 from UBS Group.
• The company reported earnings of $2.70 per share for the last quarter, beating analysts' expectations, and set a fiscal year 2025 EPS guidance at 9.751.

Ameriprise Financial Inc. raised its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 5.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 562,207 shares of the company's stock after purchasing an additional 28,674 shares during the period. Ameriprise Financial Inc. owned about 0.23% of Ferrari worth $240,602,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. CW Advisors LLC bought a new stake in shares of Ferrari in the 1st quarter valued at approximately $423,000. Summit Financial LLC bought a new position in Ferrari during the 1st quarter worth $228,000. Price T Rowe Associates Inc. MD grew its stake in Ferrari by 1.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,822,147 shares of the company's stock worth $779,661,000 after buying an additional 25,883 shares during the last quarter. Credit Agricole S A grew its stake in Ferrari by 8.2% during the 1st quarter. Credit Agricole S A now owns 534,333 shares of the company's stock worth $228,630,000 after buying an additional 40,716 shares during the last quarter. Finally, Groupama Asset Managment grew its stake in Ferrari by 11.3% during the 1st quarter. Groupama Asset Managment now owns 65,080 shares of the company's stock worth $26,136,000 after buying an additional 6,586 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RACE shares. Royal Bank Of Canada restated an "outperform" rating on shares of Ferrari in a research note 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. Citigroup restated a "sell" rating on shares of Ferrari in a research note on Monday, August 11th. UBS Group upped their price objective on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen downgraded Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Six investment 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.com, the company currently has an average rating of "Moderate Buy" and an average price target of $528.33.

Ferrari Price Performance

Shares of Ferrari stock traded up $2.36 during trading on Wednesday, hitting $470.30. The stock had a trading volume of 219,052 shares, compared to its average volume of 423,459. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. The firm has a market cap of $113.99 billion, a P/E ratio of 48.53, a PEG ratio of 5.05 and a beta of 1.09. The business has a fifty day moving average of $477.23 and a two-hundred day moving average of $467.15. Ferrari N.V. has a fifty-two week low of $391.54 and a fifty-two week high of $519.10.

Ferrari (NYSE:RACE - Get Free Report) last announced 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. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.05 billion. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The company's revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. On average, sell-side analysts expect that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Ferrari Company 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.