Paragon Advisors LLC Purchases 727 Shares of Ferrari N.V. $RACE

Key Points

• Paragon Advisors LLC increased its position in Ferrari N.V. by 14.5%, purchasing an additional 727 shares and bringing its total holdings to 5,753 shares valued at $2,823,000.
• Ferrari's recent earnings report showed an EPS of $2.70, exceeding analyst expectations, and a revenue of $2.12 billion, up 4.4% year-over-year.
• Following recent analyst reviews, Ferrari has an average rating of "Buy" with an average target price of $505.50, highlighting a generally positive outlook despite some downgrades.

Paragon Advisors LLC raised its position in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 14.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,753 shares of the company's stock after purchasing an additional 727 shares during the period. Paragon Advisors LLC's holdings in Ferrari were worth $2,823,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Ferrari by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company's stock worth $2,165,683,000 after acquiring an additional 377,929 shares during the period. Bank of Italy boosted its position in Ferrari by 2.9% during the first quarter. Bank of Italy now owns 2,407,271 shares of the company's stock worth $1,021,078,000 after purchasing an additional 67,651 shares during the period. Goldman Sachs Group Inc. boosted 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 worth $974,332,000 after purchasing an additional 781,587 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Ferrari by 1.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,822,147 shares of the company's stock worth $779,661,000 after purchasing an additional 25,883 shares during the period. Finally, Alliancebernstein L.P. boosted its position in Ferrari by 8.1% during the first quarter. Alliancebernstein L.P. now owns 1,767,337 shares of the company's stock worth $756,208,000 after purchasing an additional 131,945 shares during the period.

Ferrari Stock Performance

Shares of RACE opened at $394.14 on Thursday. The company has a market cap of $95.53 billion, a PE ratio of 40.67, a price-to-earnings-growth ratio of 4.25 and a beta of 1.08. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89. The stock has a 50-day moving average price of $462.26 and a 200-day moving average price of $467.74. Ferrari N.V. has a 12-month low of $372.31 and a 12-month high of $519.10.

Ferrari (NYSE:RACE - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $2.70 earnings per share (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 analyst estimates of $2.05 billion. During the same period in the previous year, the business posted $2.29 earnings per share. Ferrari'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. As a group, equities analysts forecast that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Zacks Research downgraded shares of Ferrari from a "strong-buy" rating to a "hold" rating in a report on Friday, August 29th. Deutsche Bank Aktiengesellschaft raised Ferrari from a "hold" rating to a "buy" rating in a report on Tuesday, September 2nd. Sanford C. Bernstein cut their price target on Ferrari from $554.00 to $475.00 and set an "outperform" rating for the company in a report on Friday, October 10th. Citigroup cut their target price on Ferrari from $579.00 to $529.00 and set a "buy" rating for the company in a research note on Thursday, October 16th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Ferrari in a research note on Monday, August 4th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Ferrari currently has an average rating of "Buy" and an average target price of $505.50.

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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