Whittier Trust Co. of Nevada Inc. Has $2.22 Million Position in Ferrari N.V. $RACE

Key Points

• Whittier Trust Co. of Nevada Inc. increased its stake in Ferrari N.V. by 28.1%, bringing its total holdings to 4,530 shares valued at approximately $2.22 million.
• Several brokerages have recently upgraded their ratings for Ferrari, with Deutsche Bank moving from a "hold" to a "buy" rating and a consensus price target of $505.50.
• Ferrari reported earnings of $2.70 per share, exceeding analysts' expectations, and had a revenue of $2.12 billion, a 4.4% increase from the previous year.

Whittier Trust Co. of Nevada Inc. raised its position in Ferrari N.V. (NYSE:RACE - Free Report) by 28.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,530 shares of the company's stock after acquiring an additional 994 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in Ferrari were worth $2,223,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in RACE. Wealth Enhancement Advisory Services LLC lifted its stake in Ferrari by 21.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,074 shares of the company's stock valued at $1,743,000 after acquiring an additional 707 shares during the last quarter. Blue Trust Inc. lifted its stake in Ferrari by 74.2% in the first quarter. Blue Trust Inc. now owns 566 shares of the company's stock valued at $242,000 after acquiring an additional 241 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Ferrari in the first quarter valued at about $204,000. International Assets Investment Management LLC raised its position in shares of Ferrari by 1.3% in the first quarter. International Assets Investment Management LLC now owns 2,711 shares of the company's stock valued at $1,160,000 after purchasing an additional 34 shares during the period. Finally, Moran Wealth Management LLC bought a new position in shares of Ferrari in the first quarter valued at about $226,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RACE. Deutsche Bank Aktiengesellschaft raised shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Tuesday, September 2nd. Sanford C. Bernstein dropped their price objective on shares of Ferrari from $554.00 to $475.00 and set an "outperform" rating on the stock in a research report on Friday, October 10th. Citigroup dropped their price objective on shares of Ferrari from $579.00 to $529.00 and set a "buy" rating on the stock in a research report on Thursday, October 16th. Royal Bank Of Canada reissued an "outperform" rating on shares of Ferrari in a research report on Monday, August 4th. Finally, Cfra Research lowered shares of Ferrari from a "hold" rating to a "moderate sell" rating in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $505.50.

Ferrari Trading Up 0.5%

Shares of RACE stock opened at $400.19 on Wednesday. The stock has a 50 day simple moving average of $463.41 and a 200 day simple moving average of $468.25. Ferrari N.V. has a 1 year low of $372.31 and a 1 year high of $519.10. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89. The stock has a market cap of $97.00 billion, a P/E ratio of 41.30, a price-to-earnings-growth ratio of 4.22 and a beta of 1.08.

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 analysts' consensus estimates of $2.57 by $0.13. The firm had revenue of $2.12 billion during 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 was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.29 EPS. Ferrari has set its FY 2025 guidance at 9.751- EPS. On average, research analysts predict that Ferrari N.V. will post 9.22 earnings per share 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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