Price T Rowe Associates Inc. MD Purchases 25,883 Shares of Ferrari N.V. $RACE

Key Points

• Price T Rowe Associates Inc. increased its holdings in Ferrari N.V. by 1.4%, acquiring an additional 25,883 shares, bringing its total to 1,822,147 shares valued at approximately $779.7 million.
• Ferrari reported quarterly earnings of $2.70 per share, exceeding estimates of $2.57, with revenue of $2.12 billion, marking a 4.4% year-over-year increase.
• Analysts have mixed ratings on Ferrari, with seven giving a "Buy" rating and one a "Sell" rating, while UBS raised its price target from $520 to $560.

Price T Rowe Associates Inc. MD raised its holdings in Ferrari N.V. (NYSE:RACE - Free Report) by 1.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,822,147 shares of the company's stock after buying an additional 25,883 shares during the period. Price T Rowe Associates Inc. MD owned about 0.75% of Ferrari worth $779,661,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Credit Agricole S A boosted its stake in Ferrari by 8.2% in the first quarter. Credit Agricole S A now owns 534,333 shares of the company's stock valued at $228,630,000 after buying an additional 40,716 shares in the last quarter. Groupama Asset Managment boosted its stake in shares of Ferrari by 11.3% in the 1st quarter. Groupama Asset Managment now owns 65,080 shares of the company's stock valued at $26,136,000 after purchasing an additional 6,586 shares during the last quarter. Nan Shan Life Insurance Co. Ltd. bought a new stake in Ferrari during the first quarter valued at $8,539,000. Hsbc Holdings PLC grew its stake in Ferrari by 245.0% during the first quarter. Hsbc Holdings PLC now owns 177,923 shares of the company's stock worth $75,323,000 after purchasing an additional 126,358 shares during the period. Finally, Qtron Investments LLC increased its stake in Ferrari by 43.6% in the first quarter. Qtron Investments LLC now owns 3,130 shares of the company's stock valued at $1,326,000 after purchasing an additional 950 shares in the last quarter.

Ferrari Trading Down 0.4%

NYSE:RACE opened at $466.3290 on Friday. The stock has a market cap of $113.03 billion, a price-to-earnings ratio of 48.12, a P/E/G ratio of 5.06 and a beta of 1.09. The company has a 50-day moving average price of $476.81 and a 200-day moving average price of $466.85. Ferrari N.V. has a 12 month low of $391.54 and a 12 month high of $519.10. 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 (NYSE:RACE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, beating analysts' consensus estimates of $2.57 by $0.13. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.05 billion. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The firm's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $2.29 EPS. Ferrari has set its FY 2025 guidance at 9.751- EPS. Equities analysts predict that Ferrari N.V. will post 9.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RACE. Citigroup reiterated a "sell" rating on shares of Ferrari in a research note on Monday, August 11th. Cfra Research lowered shares of Ferrari from a "hold" rating to a "moderate sell" rating in a research note on Thursday, July 31st. UBS Group upped their price objective on shares of Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Wall Street Zen lowered Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ferrari in a report on Monday, August 4th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $526.25.

Ferrari Company Profile

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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