Quarry LP Purchases New Stake in Ferrari N.V. $RACE

Key Points

• Quarry LP has acquired a new position in Ferrari N.V. (NYSE:RACE) by purchasing 1,398 shares valued at approximately $598,000 in the first quarter.
• Ferrari reported a quarterly earnings per share of $2.70, surpassing analyst estimates, and its revenue for the quarter was $2.12 billion, reflecting a year-over-year increase of 4.4%.
• Analysts have varying outlooks on Ferrari's stock, with ratings ranging from "moderate sell" to "buy," and an average target price set at $528.33.

Quarry LP bought a new stake in Ferrari N.V. (NYSE:RACE - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,398 shares of the company's stock, valued at approximately $598,000.

A number of other hedge funds also recently added to or reduced their stakes in RACE. Night Squared LP acquired a new stake in shares of Ferrari during the first quarter worth $1,070,000. Sculptor Capital LP purchased a new stake in shares of Ferrari in the first quarter valued at about $2,139,000. Pinnacle Wealth Planning Services Inc. raised its stake in Ferrari by 2.0% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 1,789 shares of the company's stock valued at $765,000 after purchasing an additional 35 shares during the last quarter. Stony Point Capital LLC grew its holdings in Ferrari by 116.6% in the 1st quarter. Stony Point Capital LLC now owns 99,252 shares of the company's stock valued at $42,468,000 after buying an additional 53,433 shares during the period. Finally, Vident Advisory LLC raised its holdings in shares of Ferrari by 160.6% in the 1st quarter. Vident Advisory LLC now owns 6,884 shares of the company's stock worth $2,945,000 after purchasing an additional 4,242 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RACE. Cfra Research lowered shares of Ferrari from a "hold" rating to a "moderate sell" rating in a research note on Thursday, July 31st. Citigroup restated a "sell" rating on shares of Ferrari in a research report on Monday, August 11th. Deutsche Bank Aktiengesellschaft upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Tuesday. Wall Street Zen cut Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, UBS Group raised their target price on shares of Ferrari from $540.00 to $570.00 and gave the company a "buy" rating in a research note on Wednesday. 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $531.67.

Ferrari Stock Up 0.4%

RACE traded up $2.20 during trading hours on Wednesday, hitting $494.28. 319,486 shares of the company's stock were exchanged, compared to its average volume of 380,664. The stock has a market cap of $119.80 billion, a price-to-earnings ratio of 49.25, a PEG ratio of 5.44 and a beta of 1.10. Ferrari N.V. has a 1-year low of $391.54 and a 1-year high of $519.10. The stock's 50-day moving average is $478.88 and its two-hundred day moving average is $467.04. The company has a quick ratio of 3.94, a current ratio of 5.09 and a debt-to-equity ratio of 0.89.

Ferrari (NYSE:RACE - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the prior year, the business earned $2.29 EPS. Ferrari's quarterly revenue was up 4.4% on a year-over-year basis. Ferrari has set its FY 2025 guidance at 9.751- EPS. Sell-side analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

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.