Public Employees Retirement System of Ohio Trims Stake in Ferrari N.V. $RACE

Key Points

• The Public Employees Retirement System of Ohio has decreased its holdings in Ferrari N.V. by 12.4%, owning 55,252 shares valued at approximately $26.98 million after selling 7,856 shares in the second quarter.
• Ferrari reported earnings of $2.70 per share for the last quarter, surpassing analysts' expectations, with revenue of $2.12 billion, up 4.4% year-over-year.
• Analyst sentiment for Ferrari is generally positive, with a consensus rating of "Moderate Buy" and an average price target of $531.67.

Public Employees Retirement System of Ohio reduced its holdings in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 12.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,252 shares of the company's stock after selling 7,856 shares during the period. Public Employees Retirement System of Ohio's holdings in Ferrari were worth $26,977,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Sound View Wealth Advisors Group LLC increased its holdings in Ferrari by 1.0% during the first quarter. Sound View Wealth Advisors Group LLC now owns 2,198 shares of the company's stock valued at $940,000 after buying an additional 21 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Ferrari by 41.2% in the second quarter. GAMMA Investing LLC now owns 72 shares of the company's stock worth $35,000 after purchasing an additional 21 shares in the last quarter. Rehmann Capital Advisory Group increased its stake in shares of Ferrari by 3.9% in the first quarter. Rehmann Capital Advisory Group now owns 697 shares of the company's stock worth $299,000 after purchasing an additional 26 shares in the last quarter. Aviso Financial Inc. increased its stake in shares of Ferrari by 1.1% in the first quarter. Aviso Financial Inc. now owns 2,835 shares of the company's stock worth $1,213,000 after purchasing an additional 30 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd increased its stake in shares of Ferrari by 42.9% in the first quarter. Gordian Capital Singapore Pte Ltd now owns 100 shares of the company's stock worth $43,000 after purchasing an additional 30 shares in the last quarter.

Ferrari Stock Performance

RACE opened at $480.24 on Thursday. The stock has a market capitalization of $116.40 billion, a price-to-earnings ratio of 49.56, a PEG ratio of 5.54 and a beta of 1.10. The company has a fifty day moving average of $476.44 and a 200 day moving average of $467.27. Ferrari N.V. has a fifty-two week low of $391.54 and a fifty-two week high of $519.10. 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 (NYSE:RACE - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.13. The company had revenue of $2.12 billion during the quarter, compared to analysts' expectations of $2.05 billion. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. Ferrari's quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the company posted $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, sell-side analysts forecast that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RACE has been the subject of a number of analyst reports. Berenberg Bank initiated coverage on shares of Ferrari in a research note on Tuesday, September 16th. They issued a "buy" rating for the company. Deutsche Bank Aktiengesellschaft raised shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Tuesday, September 2nd. UBS Group increased their price objective on shares of Ferrari from $540.00 to $570.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Citigroup reissued a "sell" rating on shares of Ferrari in a research note on Monday, August 11th. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a research note on Monday, August 4th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $531.67.

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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