Wealth Enhancement Advisory Services LLC Has $2.45 Million Stock Holdings in Ferrari N.V. $RACE

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Ferrari N.V. by 22.7% during the second quarter, now holding $2.45 million worth of shares.
• Vanguard Group Inc. and other institutional investors also raised their stakes, with Vanguard owning over $2.16 billion in Ferrari shares after a recent purchase.
• Equities analysts have mixed ratings on Ferrari, with eight analysts rating it as a buy and an average price target of $531.67.

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 22.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,997 shares of the company's stock after buying an additional 923 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Ferrari were worth $2,450,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Ferrari by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company's stock valued at $2,165,683,000 after buying an additional 377,929 shares in the last quarter. Bank of Italy lifted its stake in shares of Ferrari by 2.9% in the 1st quarter. Bank of Italy now owns 2,407,271 shares of the company's stock valued at $1,021,078,000 after purchasing an additional 67,651 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Ferrari by 52.3% during 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 during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Ferrari by 1.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,822,147 shares of the company's stock valued at $779,661,000 after purchasing an additional 25,883 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Ferrari by 8.1% in the first quarter. Alliancebernstein L.P. now owns 1,767,337 shares of the company's stock valued at $756,208,000 after acquiring an additional 131,945 shares during the period.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Ferrari from a "hold" rating to a "buy" rating in a research note on Tuesday, September 2nd. Berenberg Bank assumed coverage on shares of Ferrari in a research report on Tuesday, September 16th. They issued a "buy" rating for the company. Cfra Research lowered shares of Ferrari from a "hold" rating to a "moderate sell" rating in a research note on Thursday, July 31st. Citigroup reaffirmed a "sell" rating on shares of Ferrari in a research report on Monday, August 11th. Finally, Zacks Research downgraded Ferrari from a "strong-buy" rating to a "hold" rating in a report on Friday, August 29th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $531.67.

Ferrari Stock Performance

Shares of RACE stock opened at $474.73 on Friday. The firm has a market capitalization of $115.06 billion, a price-to-earnings ratio of 48.99, a PEG ratio of 3.83 and a beta of 1.10. The company has a quick ratio of 3.94, a current ratio of 5.09 and a debt-to-equity ratio of 0.89. Ferrari N.V. has a 52 week low of $391.54 and a 52 week high of $519.10. The stock has a fifty day moving average of $475.17 and a 200 day moving average of $467.86.

Ferrari (NYSE:RACE - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.13. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.05 billion. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The company's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.29 EPS. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, research analysts expect 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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