Whittier Trust Co. Purchases 353 Shares of Ferrari N.V. $RACE

Whittier Trust Co. grew its position in shares of Ferrari N.V. (NYSE:RACE) by 5.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,504 shares of the company’s stock after buying an additional 353 shares during the quarter. Whittier Trust Co.’s holdings in Ferrari were worth $3,192,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RACE shares. UBS Group reduced their target price on shares of Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. 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 target price on the stock in a research report on Thursday, October 2nd. Berenberg Bank set a $570.00 target price on shares of Ferrari in a research report on Friday, October 3rd. Finally, Cfra Research lowered shares of Ferrari from a “hold” rating to a “moderate sell” rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $505.50.

Ferrari Trading Up 0.5%

Shares of NYSE RACE opened at $400.19 on Wednesday. The company’s 50 day simple moving average is $463.41 and its 200 day simple moving average is $468.25. Ferrari N.V. has a fifty-two week low of $372.31 and a fifty-two week high of $519.10. 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. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share for the quarter, beating 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 business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period in the prior year, the business posted $2.29 earnings per share. Ferrari’s revenue was up 4.4% compared to the same quarter last year. Ferrari has set its FY 2025 guidance at 9.751- EPS. On average, analysts predict that Ferrari N.V. will post 9.22 EPS for the current year.

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.