Klingman & Associates LLC Makes New Investment in Ferrari N.V. $RACE

Klingman & Associates LLC bought a new position in Ferrari N.V. (NYSE:RACE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 558 shares of the company’s stock, valued at approximately $274,000.

Several other large investors also recently made changes to their positions in RACE. Wealth Enhancement Advisory Services LLC increased its stake in shares of 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 purchasing an additional 707 shares during the period. Blue Trust Inc. increased its stake in shares of 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 purchasing an additional 241 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Ferrari in the first quarter valued at approximately $204,000. International Assets Investment Management LLC increased its stake 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 acquired a new stake in shares of Ferrari in the first quarter valued at approximately $226,000.

Ferrari Price Performance

NYSE RACE opened at $400.19 on Wednesday. Ferrari N.V. has a 12 month low of $372.31 and a 12 month high of $519.10. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. The firm has a market capitalization of $97.00 billion, a PE ratio of 41.30, a P/E/G ratio of 4.22 and a beta of 1.08. The company’s 50 day simple moving average is $463.41 and its 200 day simple moving average is $468.25.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.13. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.05 billion. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, equities research analysts forecast that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on RACE. Weiss Ratings restated a “buy (b)” rating on shares of Ferrari in a research note on Wednesday, October 8th. Zacks Research lowered shares of Ferrari from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 29th. Cfra Research lowered shares of Ferrari from a “hold” rating to a “moderate sell” rating in a research note on Thursday, July 31st. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ferrari in a research note on Monday, August 4th. Finally, Sanford C. Bernstein lowered their price objective on shares of Ferrari from $554.00 to $475.00 and set an “outperform” rating on the stock in a research note on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $505.50.

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.