North Star Asset Management Inc. Makes New Investment in Ferrari N.V. $RACE

Key Points

• North Star Asset Management acquired 3,540 Ferrari shares worth approximately $1.32 million in the second quarter, joining several other institutional investors that initiated positions.
• Ferrari reported quarterly earnings of $2.99 per share, beating estimates of $2.83, while revenue rose 8.4% year over year to $2.21 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $477.15.
• RACE shares opened at $420.86, with the company valued at roughly $98.5 billion. Upcoming F1 developments, a highly publicized $40 million sale of its first Luce electric vehicle, and continued limited-production exclusivity support Ferrari’s premium-brand appeal.

North Star Asset Management Inc. acquired a new stake in Ferrari N.V. (NYSE:RACE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,540 shares of the company's stock, valued at approximately $1,318,000.

Several other hedge funds have also recently modified their holdings of RACE. United Capital Financial Advisors LLC purchased a new position in shares of Ferrari in the 2nd quarter worth approximately $526,000. Grandeur Peak Global Advisors LLC purchased a new stake in shares of Ferrari during the second quarter valued at approximately $356,000. Equitable Holdings Inc. purchased a new stake in shares of Ferrari during the second quarter valued at approximately $250,000. Public Employees Retirement System of Ohio bought a new stake in Ferrari during the second quarter worth $27,187,000. Finally, Corient Private Wealth LP bought a new stake in Ferrari during the second quarter worth $53,635,000.

Key Headlines Impacting Ferrari

Here are the key news stories impacting Ferrari this week:

• Positive Sentiment: Ferrari is reportedly preparing to introduce its upgraded ADUO F1 power unit at the Italian Grand Prix in Monza. A successful upgrade could improve Ferrari’s competitiveness, generate valuable publicity and support the brand’s marketing platform. Ferrari makes crucial upgraded F1 engine decision for Italian GP Ferrari ready to fire up ADUO engine upgrade at Monza
• Positive Sentiment: Ferrari unveiled special Michael Schumacher-inspired race suits and a commemorative livery for its home race at Monza, with Lewis Hamilton expected to participate in the tribute. The initiative reinforces Ferrari’s heritage and fan engagement, potentially supporting its premium-brand appeal and merchandise exposure. Ferrari unveils Michael Schumacher race suits for F1 Italian GP
• Positive Sentiment: An American billionaire reportedly paid $40 million for Ferrari’s first Luce electric vehicle, far above its estimated $1.1 million presale price. Although the tax savings benefit the buyer rather than Ferrari directly, the transaction highlights exceptional pricing power, exclusivity and demand for Ferrari’s limited-production vehicles. American billionaire bought the first Ferrari Luce
• Neutral Sentiment: Ferrari’s Formula 1 leadership identified performance goals after reportedly strong pace at Zandvoort, while a new active-bodywork patent points to possible future hypercar innovation. These developments support the long-term brand narrative but have no confirmed near-term financial impact. Ferrari's New Active Bodywork Patent
• Negative Sentiment: A high-value Ferrari race car was reportedly involved in a track-day crash. The incident appears isolated and is unlikely to materially affect Ferrari N.V.’s earnings, though it creates limited negative publicity.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wolfe Research initiated coverage on shares of Ferrari in a report on Tuesday, July 7th. They set an "outperform" rating for the company. Needham & Company LLC raised shares of Ferrari to a "neutral" rating in a research report on Friday, July 31st. UBS Group decreased their price target on shares of Ferrari from $497.00 to $490.00 and set a "buy" rating for the company in a research note on Friday, July 31st. Evercore reaffirmed an "outperform" rating and issued a $485.00 price target on shares of Ferrari in a report on Friday, July 31st. Finally, Sanford C. Bernstein lifted their price target on shares of Ferrari from $402.00 to $460.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Ferrari has a consensus rating of "Moderate Buy" and a consensus price target of $477.15.

Ferrari Trading Up 1.6%

Shares of RACE opened at $420.86 on Friday. Ferrari N.V. has a fifty-two week low of $312.51 and a fifty-two week high of $504.49. The business has a 50-day moving average of $390.23 and a 200 day moving average of $363.15. The firm has a market cap of $98.46 billion, a P/E ratio of 39.07, a price-to-earnings-growth ratio of 3.56 and a beta of 0.91. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.70 and a current ratio of 4.85.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The company reported $2.99 EPS for the quarter, beating the consensus estimate of $2.83 by $0.16. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.14 billion. Ferrari had a net margin of 22.29% and a return on equity of 42.83%. The company's revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.38 earnings per share. As a group, research analysts forecast that Ferrari N.V. will post 11.18 EPS for the current year.

Ferrari Profile

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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