Generate Investment Management Ltd Takes Position in Ferrari N.V. $RACE

Key Points

• Generate Investment Management Ltd has acquired a new position in Ferrari N.V., purchasing 10,157 shares valued at approximately $4.98 million in the second quarter.
• Several other hedge funds significantly increased their stakes in Ferrari during the first quarter, including Goldman Sachs, which raised its position by 52.3% to own over 2.2 million shares.
• Ferrari's stock has received a consensus rating of Moderate Buy from analysts, with a price target increase from UBS Group to $570.00.

Generate Investment Management Ltd acquired a new position in Ferrari N.V. (NYSE:RACE - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,157 shares of the company's stock, valued at approximately $4,984,000.

Other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in Ferrari by 52.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company's stock valued at $974,332,000 after buying an additional 781,587 shares during the period. Groupe la Francaise purchased a new stake in Ferrari in the first quarter worth about $238,818,000. Nuveen LLC purchased a new stake in Ferrari in the first quarter worth about $233,200,000. Vanguard Group Inc. raised its stake in shares of 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 period. Finally, Citigroup Inc. lifted its position in shares of Ferrari by 155.1% during the 1st quarter. Citigroup Inc. now owns 269,862 shares of the company's stock valued at $115,469,000 after buying an additional 164,092 shares in the last quarter.

Wall Street Analyst Weigh In

RACE has been the subject of several analyst reports. UBS Group increased their target price on shares of Ferrari from $540.00 to $570.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Berenberg Bank assumed coverage on shares of Ferrari in a research note on Tuesday, September 16th. They issued a "buy" rating for the company. Royal Bank Of Canada restated 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 report on Monday, August 11th. Finally, Zacks Research cut Ferrari from a "strong-buy" rating to a "hold" rating in a report on Friday, August 29th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $531.67.

Ferrari Stock Performance

NYSE RACE opened at $474.73 on Monday. The stock has a market capitalization of $115.06 billion, a PE ratio of 48.99, a P/E/G ratio of 3.83 and a beta of 1.09. The business has a 50 day simple moving average of $475.17 and a two-hundred day simple moving average of $468.05. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. Ferrari N.V. has a 1-year low of $391.54 and a 1-year high of $519.10.

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

About Ferrari

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.

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