Forum Financial Management LP Boosts Holdings in Ferrari N.V. $RACE

Forum Financial Management LP raised its holdings in Ferrari N.V. (NYSE:RACE) by 9.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,534 shares of the company’s stock after purchasing an additional 129 shares during the quarter. Forum Financial Management LP’s holdings in Ferrari were worth $753,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in RACE. Goldman Sachs Group Inc. boosted its holdings in Ferrari by 52.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company’s stock valued at $974,332,000 after purchasing an additional 781,587 shares during the last quarter. Groupe la Francaise acquired a new position in shares of Ferrari in the first quarter worth about $238,818,000. Nuveen LLC acquired a new position in shares of Ferrari in the first quarter worth about $233,200,000. Vanguard Group Inc. raised its position in shares of Ferrari by 8.1% in the first quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company’s stock worth $2,165,683,000 after acquiring an additional 377,929 shares during the period. Finally, Citigroup Inc. raised its position in shares of Ferrari by 155.1% in the first quarter. Citigroup Inc. now owns 269,862 shares of the company’s stock worth $115,469,000 after acquiring an additional 164,092 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RACE shares. Sanford C. Bernstein decreased their price objective on shares of Ferrari from $554.00 to $475.00 and set an “outperform” rating for the company in a research report on Friday, October 10th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ferrari in a research report on Monday, August 4th. HSBC upgraded shares of Ferrari from a “hold” rating to a “buy” rating and set a $470.00 price objective for the company in a research report on Thursday, October 2nd. Cfra Research downgraded shares of Ferrari from a “hold” rating to a “moderate sell” rating in a research report on Thursday, July 31st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Ferrari in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Ferrari currently has a consensus rating of “Buy” and an average price target of $505.50.

Ferrari Stock Up 2.3%

RACE opened at $402.96 on Friday. Ferrari N.V. has a twelve month low of $372.31 and a twelve month high of $519.10. The company has a quick ratio of 3.94, a current ratio of 5.09 and a debt-to-equity ratio of 0.89. The company has a 50-day moving average price of $461.02 and a 200 day moving average price of $467.77. The company has a market cap of $97.67 billion, a PE ratio of 41.59, a price-to-earnings-growth ratio of 4.18 and a beta of 1.08.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.13. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the firm earned $2.29 EPS. The company’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. Sell-side analysts expect that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Ferrari Company 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.