USS Investment Management Ltd increased its position in Ferrari N.V. (NYSE:RACE - Free Report) by 902.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 229,353 shares of the company's stock after purchasing an additional 206,463 shares during the period. USS Investment Management Ltd owned about 0.10% of Ferrari worth $76,588,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Community Bank N.A. acquired a new stake in shares of Ferrari in the third quarter worth $33,000. Fideuram Asset Management Ireland dac acquired a new position in Ferrari during the fourth quarter valued at $29,000. Entrust Financial LLC acquired a new position in Ferrari during the fourth quarter valued at $33,000. Bamco Inc. NY lifted its stake in Ferrari by 790.9% in the 4th quarter. Bamco Inc. NY now owns 98 shares of the company's stock worth $36,000 after acquiring an additional 87 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its position in Ferrari by 70.0% during the 4th quarter. CoreCap Advisors LLC now owns 102 shares of the company's stock worth $38,000 after acquiring an additional 42 shares during the period.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on RACE shares. Sanford C. Bernstein reiterated an "outperform" rating on shares of Ferrari in a report on Tuesday, June 2nd. Weiss Ratings restated a "hold (c)" rating on shares of Ferrari in a report on Friday, April 10th. JPMorgan Chase & Co. boosted their price objective on shares of Ferrari from $407.00 to $447.00 and gave the company an "overweight" rating in a research report on Tuesday, March 3rd. Morgan Stanley upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $388.00 to $438.00 in a research note on Monday, June 15th. Finally, UBS Group cut their target price on shares of Ferrari from $555.00 to $483.00 and set a "buy" rating for the company in a research report on Wednesday, April 1st. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Ferrari has an average rating of "Moderate Buy" and an average price target of $470.70.
Get Our Latest Stock Analysis on Ferrari
Key Stories Impacting Ferrari
Here are the key news stories impacting Ferrari this week:
- Positive Sentiment: Ferrari continued repurchasing stock under its €3.5 billion buyback plan, including 62,641 shares bought in late June, reinforcing management’s commitment to returning cash to shareholders. Ferrari Details June Share Buybacks Under €3.5 Billion Program
- Positive Sentiment: Separately, Ferrari reported additional purchases under its ongoing €250 million second-tranche buyback program, which can support earnings per share and signal confidence in the business. FERRARI N.V.: PERIODIC REPORT ON THE BUYBACK PROGRAM
- Neutral Sentiment: Reuters reported that Ferrari is joining BMW, Tesla, and others in switching some vehicle wiring from copper to cheaper aluminum, a cost-efficiency move that could help margins over time but is not yet a near-term earnings catalyst. Ferrari and BMW join Tesla, China in switch from copper to cheaper aluminium
- Neutral Sentiment: Several motorsport headlines pointed to Ferrari’s disappointing Austrian Grand Prix performance, including strategy criticism and a drop in race pace, which may weigh on sentiment around the brand but does not directly affect core automotive fundamentals. Hamilton questions Ferrari's 'suboptimum' Austrian GP strategy
- Negative Sentiment: Lewis Hamilton’s comments that Ferrari got a “reality check” in Austria and reports of Charles Leclerc’s slide from P2 to P8 suggest competitive struggles, which could dampen enthusiasm among fans and investors focused on Ferrari’s racing halo effect. Ferrari got a reality check in Austria, Hamilton admits
Ferrari Stock Performance
Shares of RACE stock opened at $373.14 on Wednesday. Ferrari N.V. has a fifty-two week low of $312.51 and a fifty-two week high of $519.10. The stock's 50-day moving average is $347.79 and its two-hundred day moving average is $351.87. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.20 and a quick ratio of 4.08. The firm has a market cap of $87.30 billion, a P/E ratio of 35.81, a PEG ratio of 3.51 and a beta of 0.93.
About Ferrari
(
Free Report)
Ferrari N.V. NYSE: RACE is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company's core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.
Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.
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