Ferrari N.V. $RACE Shares Acquired by Harbour Investments Inc.

Harbour Investments Inc. lifted its holdings in shares of Ferrari N.V. (NYSE:RACE) by 11.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 466 shares of the company’s stock after purchasing an additional 49 shares during the quarter. Harbour Investments Inc.’s holdings in Ferrari were worth $229,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. GW&K Investment Management LLC boosted its holdings in Ferrari by 288.9% in the first quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock valued at $30,000 after acquiring an additional 52 shares during the last quarter. GAMMA Investing LLC boosted its holdings in 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 during the last quarter. Alpine Bank Wealth Management acquired a new position in Ferrari in the first quarter valued at $33,000. Brooklyn Investment Group boosted its holdings in 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 during the last quarter. Finally, Centerpoint Advisors LLC acquired a new position in Ferrari in the first quarter valued at $43,000.

Ferrari Price Performance

Shares of NYSE RACE opened at $400.19 on Wednesday. The company has a quick ratio of 3.94, a current ratio of 5.09 and a debt-to-equity ratio of 0.89. Ferrari N.V. has a fifty-two week low of $372.31 and a fifty-two week high of $519.10. The business has a 50 day moving average price of $463.41 and a two-hundred day moving average price of $468.25. The firm has a market cap of $97.00 billion, a PE ratio of 41.30, a price-to-earnings-growth ratio of 4.22 and a beta of 1.08.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the business earned $2.29 EPS. Ferrari’s revenue for the quarter was up 4.4% compared to the same quarter last year. Ferrari has set its FY 2025 guidance at 9.751- EPS. Sell-side analysts expect that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Cfra Research cut Ferrari from a “hold” rating to a “moderate sell” rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, September 2nd. Hsbc Global Res upgraded Ferrari from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Ferrari in a research report on Wednesday, October 8th. Finally, Citigroup cut their price objective on Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Ferrari currently has an average rating of “Buy” and a consensus target price of $505.50.

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.