United Services Automobile Association Makes New $1.78 Million Investment in Ferrari N.V. $RACE

Key Points

• United Services Automobile Association invested approximately $1.78 million in Ferrari N.V., purchasing 4,150 shares in the first quarter.
• Research analysts have downgraded Ferrari's stock ratings recently, with Wall Street Zen and Zacks Research moving from "buy" to "hold".
• Ferrari reported better-than-expected earnings for the last quarter, with an EPS of $2.70 compared to analysts' estimates of $2.57, reflecting a 4.4% increase in revenue year-over-year.

United Services Automobile Association purchased a new position in shares of Ferrari N.V. (NYSE:RACE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,150 shares of the company's stock, valued at approximately $1,776,000.

Other institutional investors also recently modified their holdings of the company. GW&K Investment Management LLC raised its stake in shares of Ferrari by 288.9% in the first quarter. GW&K Investment Management LLC now owns 70 shares of the company's stock valued at $30,000 after acquiring an additional 52 shares during the last quarter. Park Square Financial Group LLC bought a new position in shares of Ferrari in the fourth quarter valued at approximately $32,000. Alpine Bank Wealth Management bought a new position in shares of Ferrari in the first quarter valued at approximately $33,000. Brooklyn Investment Group raised its stake in shares of Ferrari by 381.3% in the first quarter. Brooklyn Investment Group now owns 77 shares of the company's stock valued at $33,000 after acquiring an additional 61 shares during the last quarter. Finally, Webster Bank N. A. bought a new position in shares of Ferrari in the first quarter valued at approximately $43,000.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Ferrari from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Zacks Research lowered shares of Ferrari from a "strong-buy" rating to a "hold" rating in a report on Friday, August 29th. Cfra Research lowered shares of Ferrari from a "hold" rating to a "moderate sell" rating in a report on Thursday, July 31st. UBS Group raised their price target on shares of Ferrari from $540.00 to $570.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a report on Monday, August 4th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $531.67.

Ferrari Price Performance

RACE opened at $489.06 on Monday. The company has a fifty day moving average price of $479.60 and a two-hundred day moving average price of $466.55. 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 N.V. has a 52 week low of $391.54 and a 52 week high of $519.10. The firm has a market capitalization of $118.54 billion, a PE ratio of 50.47, a P/E/G ratio of 5.57 and a beta of 1.09.

Ferrari (NYSE:RACE - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $2.70 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 firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the business earned $2.29 EPS. The business's quarterly 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, analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current 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.

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