PFG Investments LLC decreased its position in Ferrari N.V. (NYSE:RACE - Free Report) by 21.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,520 shares of the company's stock after selling 971 shares during the quarter. PFG Investments LLC's holdings in Ferrari were worth $1,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the company. Generali Investments CEE investicni spolecnost a.s. lifted its position in Ferrari by 6.2% in the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 8,565 shares of the company's stock worth $4,199,000 after buying an additional 500 shares during the last quarter. Bennett Selby Investments LP lifted its position in Ferrari by 20.6% in the second quarter. Bennett Selby Investments LP now owns 2,312 shares of the company's stock valued at $1,135,000 after purchasing an additional 395 shares during the last quarter. Generate Investment Management Ltd bought a new stake in Ferrari in the second quarter valued at approximately $4,984,000. V Square Quantitative Management LLC bought a new stake in Ferrari in the second quarter valued at approximately $230,000. Finally, Exane Asset Management lifted its position in Ferrari by 5,211.1% in the second quarter. Exane Asset Management now owns 21,935 shares of the company's stock valued at $10,710,000 after purchasing an additional 21,522 shares during the last quarter.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on RACE. Berenberg Bank began coverage on Ferrari in a research report on Tuesday, September 16th. They issued a "buy" rating for the company. Cfra Research downgraded Ferrari from a "hold" rating to a "moderate sell" rating in a research report on Thursday, July 31st. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft upgraded Ferrari from a "hold" rating to a "buy" rating in a research report on Tuesday, September 2nd. Finally, UBS Group boosted their price objective on Ferrari from $540.00 to $570.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Ferrari currently has a consensus rating of "Moderate Buy" and a consensus price target of $531.67.
Check Out Our Latest Stock Analysis on RACE
Ferrari Price Performance
RACE opened at $489.70 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.94 and a current ratio of 5.09. Ferrari N.V. has a 52-week low of $391.54 and a 52-week high of $519.10. The stock has a market capitalization of $118.69 billion, a PE ratio of 50.54, a price-to-earnings-growth ratio of 3.91 and a beta of 1.08. The stock's 50 day moving average price is $473.77 and its 200-day moving average price is $468.53.
Ferrari (NYSE:RACE - Get Free Report) last posted 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 return on equity of 45.41% and a net margin of 22.95%.The firm had revenue of $2.12 billion for the quarter, compared to analysts' expectations of $2.05 billion. During the same period in the previous year, the firm earned $2.29 earnings per share. The business's revenue was up 4.4% compared to the same quarter last year. Ferrari has set its FY 2025 guidance at 9.751- EPS. On average, equities research analysts predict that Ferrari N.V. will post 9.22 EPS for the current year.
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
Want to see what other hedge funds are holding RACE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferrari N.V. (NYSE:RACE - Free Report).
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