Klingman & Associates LLC Makes New Investment in Ferrari N.V. $RACE

Klingman & Associates LLC purchased a new position in Ferrari N.V. (NYSE:RACE) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 558 shares of the company’s stock, valued at approximately $274,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Callan Family Office LLC grew its position in Ferrari by 58.5% during the 2nd quarter. Callan Family Office LLC now owns 4,378 shares of the company’s stock worth $2,148,000 after purchasing an additional 1,615 shares in the last quarter. TD Asset Management Inc grew its position in Ferrari by 1.1% during the 2nd quarter. TD Asset Management Inc now owns 415,850 shares of the company’s stock worth $203,677,000 after purchasing an additional 4,434 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Ferrari by 26.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,599 shares of the company’s stock worth $5,205,000 after purchasing an additional 2,220 shares in the last quarter. Rheos Capital Works Inc. grew its position in Ferrari by 14.1% during the 2nd quarter. Rheos Capital Works Inc. now owns 161,700 shares of the company’s stock worth $79,353,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Bridgewater Advisors Inc. purchased a new position in Ferrari during the 1st quarter worth approximately $492,000.

Ferrari Trading Up 0.5%

Shares of NYSE:RACE opened at $400.19 on Wednesday. The firm has a fifty day moving average of $463.41 and a two-hundred day moving average of $468.25. The firm has a market capitalization of $97.00 billion, a P/E ratio of 41.30, a price-to-earnings-growth ratio of 4.22 and a beta of 1.08. Ferrari N.V. has a 12-month low of $372.31 and a 12-month high of $519.10. 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 (NYSE:RACE) last issued its 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. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.05 billion. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $2.29 EPS. Ferrari has set its FY 2025 guidance at 9.751- EPS. On average, equities analysts expect that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RACE has been the topic of several research analyst reports. UBS Group lowered their price objective 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. Hsbc Global Res upgraded shares of Ferrari from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 2nd. Berenberg Bank set a $570.00 price objective on shares of Ferrari in a research report on Friday, October 3rd. Cfra Research cut shares of Ferrari from a “hold” rating to a “moderate sell” rating in a research report on Thursday, July 31st. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Ferrari in a research note on Monday, August 4th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target 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.