Mutual Advisors LLC Lowers Stock Holdings in Ferrari N.V. $RACE

Mutual Advisors LLC lowered its stake in Ferrari N.V. (NYSE:RACE) by 8.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 936 shares of the company’s stock after selling 84 shares during the quarter. Mutual Advisors LLC’s holdings in Ferrari were worth $485,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. GW&K Investment Management LLC lifted its stake in Ferrari by 288.9% in the 1st quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock worth $30,000 after purchasing an additional 52 shares in the last quarter. GAMMA Investing LLC lifted its stake in Ferrari by 41.2% in the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock worth $35,000 after purchasing an additional 21 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in Ferrari in the 1st quarter worth $33,000. Brooklyn Investment Group lifted its stake in Ferrari by 381.3% in the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock worth $33,000 after purchasing an additional 61 shares in the last quarter. Finally, Centerpoint Advisors LLC purchased a new stake in Ferrari in the 1st quarter worth $43,000.

Analyst Upgrades and Downgrades

RACE has been the topic of several research analyst reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ferrari in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, September 2nd. HSBC upgraded shares of Ferrari from a “hold” rating to a “buy” rating and set a $470.00 target price on the stock in a report on Thursday, October 2nd. Sanford C. Bernstein reduced their target price on shares of Ferrari from $554.00 to $475.00 and set an “outperform” rating on the stock in a report on Friday, October 10th. Finally, Cfra Research downgraded shares of Ferrari from a “hold” rating to a “moderate sell” rating in a report on Thursday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Ferrari currently has an average rating of “Buy” and an average target price of $514.00.

Ferrari Stock Performance

Ferrari stock opened at $399.26 on Monday. The company has a market cap of $96.77 billion, a PE ratio of 41.20, a price-to-earnings-growth ratio of 4.23 and a beta of 1.08. Ferrari N.V. has a twelve month low of $372.31 and a twelve month high of $519.10. The company’s 50-day moving average price is $465.18 and its 200-day moving average price is $468.84. 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 (NYSE:RACE) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.57 by $0.13. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.05 billion. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.29 EPS. Ferrari has set its FY 2025 guidance at 9.751- EPS. On average, equities research analysts forecast that Ferrari N.V. will post 9.22 EPS 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.