Verdence Capital Advisors LLC Buys 184 Shares of Ferrari N.V. $RACE

Verdence Capital Advisors LLC grew its stake in shares of Ferrari N.V. (NYSE:RACE) by 7.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,664 shares of the company’s stock after purchasing an additional 184 shares during the period. Verdence Capital Advisors LLC’s holdings in Ferrari were worth $1,307,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GW&K Investment Management LLC increased 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 purchasing an additional 52 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in Ferrari during the 1st quarter worth approximately $33,000. Brooklyn Investment Group grew its holdings in shares of Ferrari by 381.3% in the first quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock valued at $33,000 after acquiring an additional 61 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Ferrari by 41.2% in the second quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock valued at $35,000 after acquiring an additional 21 shares in the last quarter. Finally, Centerpoint Advisors LLC bought a new position in shares of Ferrari in the first quarter valued at approximately $43,000.

Analysts Set New Price Targets

RACE has been the subject of several recent analyst reports. Berenberg Bank set a $570.00 target price on Ferrari in a report on Friday, October 3rd. Sanford C. Bernstein reduced their target price on Ferrari from $554.00 to $475.00 and set an “outperform” rating for the company in a report on Friday. Hsbc Global Res raised Ferrari from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferrari in a report on Monday, August 4th. Finally, UBS Group upped their target price on Ferrari from $570.00 to $579.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $519.83.

Ferrari Price Performance

Shares of NYSE RACE opened at $379.14 on Tuesday. The stock has a fifty day simple moving average of $469.49 and a two-hundred day simple moving average of $470.00. Ferrari N.V. has a 1-year low of $377.64 and a 1-year high of $519.10. The firm has a market cap of $91.90 billion, a price-to-earnings ratio of 39.13, a price-to-earnings-growth ratio of 3.19 and a beta of 1.08. 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, beating 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 analyst estimates of $2.05 billion. During the same period in the prior year, the company earned $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. Analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current 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.