Ferrari N.V. $RACE Holdings Increased by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. grew its stake in shares of Ferrari N.V. (NYSE:RACE) by 178.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 390 shares of the company’s stock after buying an additional 250 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Ferrari were worth $191,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RACE. GW&K Investment Management LLC raised its position in shares of 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 in the last quarter. Alpine Bank Wealth Management acquired a new stake in Ferrari during the first quarter valued at approximately $33,000. Brooklyn Investment Group lifted its stake in Ferrari by 381.3% during the first quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock valued at $33,000 after purchasing an additional 61 shares during the last quarter. GAMMA Investing LLC lifted its stake in Ferrari by 41.2% during the second quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock valued at $35,000 after purchasing an additional 21 shares during the last quarter. Finally, Centerpoint Advisors LLC acquired a new stake in Ferrari during the first quarter valued at approximately $43,000.

Ferrari Stock Up 0.5%

RACE stock opened at $400.19 on Wednesday. Ferrari N.V. has a 52-week low of $372.31 and a 52-week high of $519.10. The company’s 50 day simple moving average is $463.41 and its 200-day simple moving average is $468.25. 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 P/E ratio of 41.30, a P/E/G ratio of 4.22 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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.13. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the business earned $2.29 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, equities research analysts anticipate that Ferrari N.V. will post 9.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Ferrari in a research note on Wednesday, October 8th. Cfra Research lowered shares of Ferrari from a “hold” rating to a “moderate sell” rating in a research note on Thursday, July 31st. Citigroup 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. Hsbc Global Res raised shares of Ferrari from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 2nd. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Ferrari in a research note on Monday, August 4th. Two 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average 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.