Northern Trust Corp Grows Holdings in Ferrari N.V. $RACE

Key Points

• Northern Trust Corp increased its shares in Ferrari N.V. by 9.6% during Q1, now holding 350,905 shares valued at approximately $150.1 million.
• Ferrari's recent earnings report showed an EPS of $2.70, exceeding estimates, and a revenue of $2.12 billion, marking a 4.4% increase year-over-year.
• Analysts have mixed ratings on Ferrari stock, with an average consensus of "Moderate Buy" and a price target of $526.25.

Northern Trust Corp boosted its holdings in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 9.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 350,905 shares of the company's stock after purchasing an additional 30,815 shares during the period. Northern Trust Corp owned about 0.14% of Ferrari worth $150,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Sound View Wealth Advisors Group LLC grew its position in shares of Ferrari by 1.0% in the first quarter. Sound View Wealth Advisors Group LLC now owns 2,198 shares of the company's stock valued at $940,000 after purchasing an additional 21 shares during the period. Garde Capital Inc. grew its position in Ferrari by 5.0% in the fourth quarter. Garde Capital Inc. now owns 525 shares of the company's stock worth $223,000 after acquiring an additional 25 shares during the period. Rehmann Capital Advisory Group increased its position in shares of Ferrari by 3.9% during the 1st quarter. Rehmann Capital Advisory Group now owns 697 shares of the company's stock worth $299,000 after purchasing an additional 26 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Ferrari by 7.9% during the first quarter. Fifth Third Bancorp now owns 424 shares of the company's stock valued at $181,000 after acquiring an additional 31 shares during the last quarter. Finally, Wealth Alliance LLC increased its holdings in Ferrari by 2.5% in the 1st quarter. Wealth Alliance LLC now owns 1,254 shares of the company's stock valued at $537,000 after purchasing an additional 31 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ferrari in a research note on Monday, August 4th. Citigroup reaffirmed a "sell" rating on shares of Ferrari in a research report on Monday, August 11th. Wall Street Zen cut shares of Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Cfra Research downgraded Ferrari from a "hold" rating to a "moderate sell" rating in a research note on Thursday, July 31st. Finally, UBS Group lifted their price objective on shares of Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $528.33.

Ferrari Price Performance

Shares of RACE traded up $6.77 during trading hours on Thursday, reaching $476.13. 101,819 shares of the company traded hands, compared to its average volume of 421,829. The stock has a market capitalization of $115.40 billion, a PE ratio of 49.14, a price-to-earnings-growth ratio of 5.06 and a beta of 1.09. Ferrari N.V. has a fifty-two week low of $391.54 and a fifty-two week high of $519.10. The company has a quick ratio of 3.94, a current ratio of 5.09 and a debt-to-equity ratio of 0.89. The stock has a fifty day simple moving average of $477.42 and a 200 day simple moving average of $467.17.

Ferrari (NYSE:RACE - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.57 by $0.13. The firm 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 business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, research analysts predict that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

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.