University of Texas Texas AM Investment Management Co. Buys Shares of 1,304 Ferrari N.V. $RACE

University of Texas Texas AM Investment Management Co. purchased a new position in shares of Ferrari N.V. (NYSE:RACE) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,304 shares of the company’s stock, valued at approximately $640,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RACE. Wealth Enhancement Advisory Services LLC boosted its holdings in Ferrari by 21.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,074 shares of the company’s stock worth $1,743,000 after purchasing an additional 707 shares during the last quarter. Moran Wealth Management LLC bought a new position in shares of Ferrari in the 1st quarter valued at about $226,000. Bessemer Group Inc. increased its position in shares of Ferrari by 3.5% in the first quarter. Bessemer Group Inc. now owns 8,885 shares of the company’s stock valued at $3,802,000 after acquiring an additional 304 shares during the last quarter. PDS Planning Inc boosted its position in Ferrari by 6.5% during the first quarter. PDS Planning Inc now owns 627 shares of the company’s stock valued at $268,000 after purchasing an additional 38 shares during the last quarter. Finally, Perissos Private Wealth Management LLC bought a new stake in shares of Ferrari during the 1st quarter worth approximately $742,000.

Ferrari Stock Performance

NYSE RACE opened at $408.59 on Friday. The firm’s 50 day simple moving average is $459.99 and its 200 day simple moving average is $468.33. The firm has a market capitalization of $99.04 billion, a price-to-earnings ratio of 42.17, a P/E/G ratio of 4.33 and a beta of 1.08. 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.

Ferrari (NYSE:RACE) last announced its quarterly earnings data 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 return on equity of 45.41% and a net margin of 22.95%.The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the company earned $2.29 EPS. Ferrari’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. As a group, research analysts expect that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ferrari in a research note on Monday, August 4th. UBS Group cut their target price on shares of Ferrari from $579.00 to $529.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Ferrari in a report on Wednesday, October 8th. Berenberg Bank set a $570.00 price objective on Ferrari in a research note on Friday, October 3rd. Finally, Sanford C. Bernstein cut their target price on shares of Ferrari from $554.00 to $475.00 and set an “outperform” rating for the company 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 given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $505.50.

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.