Townsend Asset Management Corp NC ADV Buys New Shares in Ferrari N.V. $RACE

Key Points

• Townsend Asset Management Corp NC ADV has acquired a new stake in Ferrari N.V., purchasing 1,407 shares worth approximately $690,000 in the second quarter.
• Ferrari reported earnings of $2.70 per share for the last quarter, exceeding analysts' expectations and showing a 4.4% increase in revenue year-over-year.
• Investment analysts have mixed views on Ferrari, with eight rating it as a "Buy" and one as a "Sell," resulting in a consensus target price of $531.67.

Townsend Asset Management Corp NC ADV bought a new stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,407 shares of the company's stock, valued at approximately $690,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bridgewater Advisors Inc. acquired a new stake in Ferrari during the first quarter valued at approximately $492,000. Thoroughbred Financial Services LLC lifted its stake in Ferrari by 39.7% during the first quarter. Thoroughbred Financial Services LLC now owns 10,286 shares of the company's stock valued at $4,401,000 after purchasing an additional 2,925 shares during the last quarter. Banco Santander S.A. lifted its stake in Ferrari by 35.3% during the first quarter. Banco Santander S.A. now owns 560,999 shares of the company's stock valued at $240,040,000 after purchasing an additional 146,279 shares during the last quarter. Callan Family Office LLC lifted its stake in Ferrari by 146.3% during the first quarter. Callan Family Office LLC now owns 2,763 shares of the company's stock valued at $1,182,000 after purchasing an additional 1,641 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its stake in Ferrari by 75.1% during the first quarter. Dynamic Technology Lab Private Ltd now owns 3,580 shares of the company's stock valued at $1,532,000 after purchasing an additional 1,535 shares during the last quarter.

Ferrari Trading Up 0.3%

NYSE:RACE opened at $474.73 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. Ferrari N.V. has a fifty-two week low of $391.54 and a fifty-two week high of $519.10. The stock's 50-day moving average is $475.17 and its two-hundred day moving average is $467.74. The stock has a market cap of $115.06 billion, a PE ratio of 48.99, a price-to-earnings-growth ratio of 3.81 and a beta of 1.10.

Ferrari (NYSE:RACE - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $2.70 earnings per share (EPS) 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 company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the firm earned $2.29 EPS. The company's revenue was up 4.4% compared to the same quarter last year. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, equities research analysts forecast that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RACE has been the subject of several recent research reports. Citigroup reissued a "sell" rating on shares of Ferrari in a research note on Monday, August 11th. Berenberg Bank began coverage on shares of Ferrari in a research report on Tuesday, September 16th. They issued a "buy" rating for the company. UBS Group upped their price target on shares of Ferrari from $540.00 to $570.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Zacks Research downgraded shares of Ferrari from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 29th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Ferrari has a consensus rating of "Moderate Buy" and a consensus target price of $531.67.

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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