Park Avenue Securities LLC Acquires 45 Shares of Ferrari N.V. $RACE

Park Avenue Securities LLC lifted its holdings in shares of Ferrari N.V. (NYSE:RACE) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,462 shares of the company’s stock after purchasing an additional 45 shares during the quarter. Park Avenue Securities LLC’s holdings in Ferrari were worth $1,691,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of RACE. Physician Wealth Advisors Inc. raised its holdings in Ferrari by 179.2% during the 2nd quarter. Physician Wealth Advisors Inc. now owns 148 shares of the company’s stock worth $73,000 after buying an additional 95 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Ferrari by 11.4% during the second quarter. Farther Finance Advisors LLC now owns 935 shares of the company’s stock worth $459,000 after acquiring an additional 96 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new stake in Ferrari in the 2nd quarter valued at $519,000. Security National Bank boosted its stake in Ferrari by 55.1% in the 2nd quarter. Security National Bank now owns 521 shares of the company’s stock worth $256,000 after purchasing an additional 185 shares during the period. Finally, Redhawk Wealth Advisors Inc. increased its holdings in Ferrari by 18.3% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 4,066 shares of the company’s stock worth $1,995,000 after purchasing an additional 630 shares in the last quarter.

Wall Street Analyst Weigh In

RACE has been the topic of a number of research reports. Citigroup restated a “sell” rating on shares of Ferrari in a report on Monday, August 11th. Zacks Research cut Ferrari from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 29th. UBS Group raised their price target on shares of Ferrari from $540.00 to $570.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Royal Bank Of Canada reissued an “outperform” rating on shares of Ferrari in a research report on Monday, August 4th. Finally, Berenberg Bank started coverage on shares of Ferrari in a report on Tuesday, September 16th. They set a “buy” rating for the company. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ferrari has a consensus rating of “Moderate Buy” and a consensus price target of $531.67.

Ferrari Trading Down 1.4%

NYSE RACE opened at $473.84 on Friday. The company has a market cap of $114.85 billion, a PE ratio of 48.90, a PEG ratio of 3.87 and a beta of 1.10. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89. Ferrari N.V. has a 12 month low of $391.54 and a 12 month high of $519.10. The stock has a 50 day moving average of $475.79 and a 200-day moving average of $467.52.

Ferrari (NYSE:RACE) last issued 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 business 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 company earned $2.29 earnings per share. The firm’s revenue for the quarter 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 anticipate that Ferrari N.V. will post 9.22 EPS for the current fiscal 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.