Rheos Capital Works Inc. Raises Stock Position in Ferrari N.V. $RACE

Key Points

• Rheos Capital Works Inc. increased its stake in Ferrari N.V. by 14.1%, owning approximately 161,700 shares valued at $79.35 million, making it the firm's third largest position.
• Multiple institutional investors, including Goldman Sachs and Vanguard Group, have also boosted their holdings in Ferrari, indicating strong interest in the company.
• Recent analyst actions include HSBC upgrading Ferrari to a "strong-buy" rating, with the stock now having a consensus rating of "Moderate Buy" and an average price target of $519.83.

Rheos Capital Works Inc. increased its stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 14.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 161,700 shares of the company's stock after acquiring an additional 20,000 shares during the quarter. Ferrari makes up about 4.6% of Rheos Capital Works Inc.'s portfolio, making the stock its 3rd largest position. Rheos Capital Works Inc. owned approximately 0.07% of Ferrari worth $79,353,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Ferrari by 8.1% in the first 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 in the last quarter. Bank of Italy boosted its holdings in Ferrari by 2.9% in the first quarter. Bank of Italy now owns 2,407,271 shares of the company's stock worth $1,021,078,000 after acquiring an additional 67,651 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Ferrari by 52.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company's stock worth $974,332,000 after acquiring an additional 781,587 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Ferrari by 1.4% in the 1st 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 in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Ferrari by 8.1% in the 1st 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 in the last quarter.

Analyst Upgrades and Downgrades

RACE has been the topic of a number of recent research reports. Hsbc Global Res upgraded Ferrari from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 2nd. HSBC raised shares of Ferrari from a "hold" rating to a "buy" rating and set a $470.00 price objective on the stock in a research note on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Tuesday, September 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Finally, Cfra Research lowered Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $519.83.

Ferrari Price Performance

Ferrari stock opened at $382.60 on Wednesday. Ferrari N.V. has a 52 week low of $372.31 and a 52 week high of $519.10. The company's 50 day moving average price is $468.29 and its two-hundred day moving average price is $469.39. The company has a quick ratio of 3.94, a current ratio of 5.09 and a debt-to-equity ratio of 0.89. The stock has a market cap of $92.74 billion, a P/E ratio of 39.48, a P/E/G ratio of 4.01 and a beta of 1.08.

Ferrari (NYSE:RACE - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.57 by $0.13. The firm had revenue of $2.12 billion for 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%. The company's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.29 EPS. Ferrari has set its FY 2025 guidance at 9.751- EPS. On average, equities analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current year.

Ferrari 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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