Douglas Lane & Associates LLC Lowers Position in Ferrari N.V. $RACE

Key Points

• Douglas Lane & Associates LLC has reduced its stake in Ferrari N.V. by 1.7%, now owning 107,626 shares valued at approximately $52.8 million.
• Ferrari's recent quarterly earnings showed an EPS of $2.70, exceeding expectations and signaling a 4.4% year-over-year revenue growth.
• The stock currently has an average analyst rating of "Moderate Buy" with a consensus price target of $531.67.

Douglas Lane & Associates LLC trimmed its stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 107,626 shares of the company's stock after selling 1,835 shares during the period. Douglas Lane & Associates LLC's holdings in Ferrari were worth $52,816,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. GW&K Investment Management LLC raised its holdings in shares of Ferrari by 288.9% during the first quarter. GW&K Investment Management LLC now owns 70 shares of the company's stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. Park Square Financial Group LLC purchased a new position in shares of Ferrari during the fourth quarter valued at approximately $32,000. Alpine Bank Wealth Management purchased a new position in shares of Ferrari during the first quarter valued at approximately $33,000. Brooklyn Investment Group raised its holdings in shares of Ferrari by 381.3% during 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 last quarter. Finally, Webster Bank N. A. purchased a new position in shares of Ferrari during the first quarter valued at approximately $43,000.

Ferrari Price Performance

Shares of RACE traded up $1.28 during mid-day trading on Tuesday, reaching $480.22. The stock had a trading volume of 301,382 shares, compared to its average volume of 285,829. The firm has a market cap of $116.40 billion, a price-to-earnings ratio of 49.56, a PEG ratio of 5.46 and a beta of 1.10. Ferrari N.V. has a 12 month low of $391.54 and a 12 month high of $519.10. The business has a fifty day moving average of $478.05 and a 200 day moving average of $466.34. 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 (NYSE:RACE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 22.95% and a return on equity of 45.41%. The company's revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. Equities analysts predict that Ferrari N.V. will post 9.22 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on RACE shares. Royal Bank Of Canada restated an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Cfra Research lowered shares of Ferrari from a "hold" rating to a "moderate sell" rating in a research report on Thursday, July 31st. Zacks Research lowered shares of Ferrari from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 29th. UBS Group boosted their target price on shares of Ferrari from $540.00 to $570.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Tuesday, September 2nd. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.