TD Asset Management Inc Buys 4,434 Shares of Ferrari N.V. $RACE

Key Points

• TD Asset Management Inc has increased its holdings in Ferrari N.V. (NYSE:RACE) by 1.1%, acquiring an additional 4,434 shares to reach a total of 415,850 shares valued at approximately $203.7 million.
• A range of hedge funds also modified their stakes in Ferrari, with notable increases including a 235.3% increase from QRG Capital Management Inc. during the first quarter.
• Ferrari's stock performance shows it recently opened at $379.14, with a twelve-month high of $519.10 and an average analyst rating of "Moderate Buy".

TD Asset Management Inc raised its holdings in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 415,850 shares of the company's stock after acquiring an additional 4,434 shares during the quarter. TD Asset Management Inc owned approximately 0.17% of Ferrari worth $203,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of RACE. Farther Finance Advisors LLC grew its position in shares of Ferrari by 9.7% during the 1st quarter. Farther Finance Advisors LLC now owns 839 shares of the company's stock valued at $361,000 after acquiring an additional 74 shares during the period. Fifth Third Bancorp grew its position in shares of Ferrari by 7.9% during the 1st quarter. Fifth Third Bancorp now owns 424 shares of the company's stock valued at $181,000 after acquiring an additional 31 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Ferrari by 21.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,074 shares of the company's stock valued at $1,743,000 after buying an additional 707 shares in the last quarter. Sowell Financial Services LLC purchased a new position in shares of Ferrari during the 1st quarter valued at $344,000. Finally, QRG Capital Management Inc. lifted its stake in shares of Ferrari by 235.3% during the 1st quarter. QRG Capital Management Inc. now owns 2,183 shares of the company's stock valued at $934,000 after buying an additional 1,532 shares in the last quarter.

Analyst Ratings Changes

Several analysts have commented on the stock. Citigroup reiterated a "sell" rating on shares of Ferrari in a research note on Monday, August 11th. Sanford C. Bernstein decreased their price target on shares of Ferrari from $554.00 to $475.00 and set an "outperform" rating on the stock in a research note on Friday. UBS Group boosted their price target on shares of Ferrari from $570.00 to $579.00 and gave the stock a "buy" rating in a research note on Friday, October 3rd. Hsbc Global Res upgraded shares of Ferrari from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 2nd. Finally, Berenberg Bank set a $570.00 price target on shares of Ferrari in a research note on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ferrari presently has an average rating of "Moderate Buy" and an average price target of $519.83.

Ferrari Stock Performance

Ferrari stock opened at $379.14 on Tuesday. The company's 50-day moving average price is $469.49 and its 200-day moving average price is $470.00. Ferrari N.V. has a twelve month low of $377.64 and a twelve month high of $519.10. 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 company has a market cap of $91.90 billion, a PE ratio of 39.13, a price-to-earnings-growth ratio of 3.19 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 earnings per share for the quarter, topping 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 firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the firm posted $2.29 EPS. The business's quarterly revenue was up 4.4% on a year-over-year basis. Ferrari has set its FY 2025 guidance at 9.751- EPS. On average, equities research analysts forecast that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

About Ferrari

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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