Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 44.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 6,120 shares of the company's stock after purchasing an additional 1,870 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Ferrari were worth $3,003,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. GW&K Investment Management LLC increased its position in Ferrari by 288.9% during the 1st 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 period. Alpine Bank Wealth Management purchased a new position in Ferrari during the 1st quarter valued at about $33,000. Brooklyn Investment Group increased its position in Ferrari by 381.3% during the 1st 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 period. GAMMA Investing LLC increased its position in Ferrari by 41.2% during the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company's stock valued at $35,000 after purchasing an additional 21 shares during the period. Finally, Centerpoint Advisors LLC bought a new stake in shares of Ferrari in the 1st quarter valued at about $43,000.
Ferrari Stock Performance
Shares of NYSE RACE opened at $490.84 on Wednesday. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89. Ferrari N.V. has a 12 month low of $391.54 and a 12 month high of $519.10. The company has a 50 day simple moving average of $472.56 and a two-hundred day simple moving average of $470.06. The stock has a market cap of $118.97 billion, a price-to-earnings ratio of 50.65, a PEG ratio of 3.96 and a beta of 1.08.
Ferrari (NYSE:RACE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.57 by $0.13. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The business had revenue of $2.12 billion during the quarter, compared to analysts' expectations of $2.05 billion. During the same period in the previous year, the business posted $2.29 EPS. The business's quarterly revenue was up 4.4% compared to the same quarter last year. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current year.
Analyst Ratings Changes
A number of analysts have recently weighed in on RACE shares. Hsbc Global Res upgraded shares of Ferrari from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 2nd. Citigroup restated a "sell" rating on shares of Ferrari in a report on Monday, August 11th. Weiss Ratings restated a "buy (b)" rating on shares of Ferrari in a report on Saturday, September 27th. Cfra Research cut shares of Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. Finally, HSBC upgraded shares of Ferrari from a "hold" rating to a "buy" rating and set a $470.00 price target on the stock in a report on Thursday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $528.80.
Read Our Latest Report on Ferrari
Ferrari Profile
(
Free Report)
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.
See Also
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