Verdence Capital Advisors LLC Has $1.31 Million Position in Ferrari N.V. $RACE

Verdence Capital Advisors LLC boosted its stake in shares of Ferrari N.V. (NYSE:RACE) by 7.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,664 shares of the company’s stock after buying an additional 184 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Ferrari were worth $1,307,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RACE. GW&K Investment Management LLC lifted its holdings in Ferrari by 288.9% during the 1st quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock worth $30,000 after buying an additional 52 shares during the period. Alpine Bank Wealth Management acquired a new position in Ferrari during the 1st quarter worth about $33,000. Brooklyn Investment Group lifted its holdings in Ferrari by 381.3% during the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock worth $33,000 after buying an additional 61 shares during the period. GAMMA Investing LLC lifted its holdings in Ferrari by 41.2% during the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock worth $35,000 after buying an additional 21 shares during the period. Finally, Centerpoint Advisors LLC acquired a new position in Ferrari during the 1st quarter worth about $43,000.

Ferrari Stock Down 4.2%

RACE stock opened at $379.14 on Tuesday. The stock’s 50 day simple moving average is $469.49 and its 200 day simple moving average is $470.00. Ferrari N.V. has a fifty-two week low of $377.64 and a fifty-two week high of $519.10. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.94 and a current ratio of 5.09. The company has a market cap of $91.90 billion, a P/E ratio of 39.13, a price-to-earnings-growth ratio of 3.19 and a beta of 1.08.

Ferrari (NYSE:RACE) last posted its quarterly 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 return on equity of 45.41% and a net margin of 22.95%.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 prior year, the business earned $2.29 EPS. 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, research analysts expect that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Cfra Research downgraded Ferrari from a “hold” rating to a “moderate sell” rating in a research note on Thursday, July 31st. UBS Group boosted their price objective on Ferrari from $570.00 to $579.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Citigroup reissued a “sell” rating on shares of Ferrari in a research note on Monday, August 11th. Berenberg Bank set a $570.00 price objective on Ferrari in a research note on Friday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft raised Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $519.83.

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.