Ferrari N.V. $RACE Holdings Lifted by Segment Wealth Management LLC

Segment Wealth Management LLC grew its position in Ferrari N.V. (NYSE:RACE) by 3.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 5,723 shares of the company’s stock after buying an additional 199 shares during the period. Segment Wealth Management LLC’s holdings in Ferrari were worth $2,809,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Berenberg Bank set a $570.00 target price on shares of Ferrari in a research report on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, September 2nd. Hsbc Global Res upgraded shares of Ferrari from a “hold” rating to a “strong-buy” rating in a report on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of Ferrari in a report on Saturday, September 27th. Finally, Zacks Research cut shares of Ferrari from a “strong-buy” rating to a “hold” rating in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $528.80.

Ferrari Trading Down 0.6%

Shares of NYSE:RACE opened at $500.91 on Friday. The stock has a market capitalization of $121.41 billion, a price-to-earnings ratio of 51.69, a PEG ratio of 4.06 and a beta of 1.08. Ferrari N.V. has a 1-year low of $391.54 and a 1-year 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 50 day moving average price of $473.20 and a 200 day moving average price of $469.25.

Ferrari (NYSE:RACE) last issued its 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. The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. On average, research analysts anticipate that Ferrari N.V. will post 9.22 EPS 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.