Jupiter Asset Management Ltd. Lowers Stake in Ferrari N.V. $RACE

Jupiter Asset Management Ltd. lowered its stake in shares of Ferrari N.V. (NYSE:RACE) by 80.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,265 shares of the company’s stock after selling 21,231 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Ferrari were worth $2,572,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of RACE. GW&K Investment Management LLC raised its holdings in Ferrari by 288.9% during the first 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. Brooklyn Investment Group raised its stake in shares of Ferrari by 381.3% during the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock worth $33,000 after buying an additional 61 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Ferrari by 41.2% during the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock worth $35,000 after purchasing an additional 21 shares in the last quarter. Creekmur Asset Management LLC raised its holdings in shares of Ferrari by 660.0% in the second quarter. Creekmur Asset Management LLC now owns 76 shares of the company’s stock worth $37,000 after acquiring an additional 66 shares during the last quarter. Finally, Centerpoint Advisors LLC acquired a new position in Ferrari in the 1st quarter valued at about $43,000.

Ferrari Price Performance

Shares of NYSE:RACE opened at $417.87 on Friday. The company has a current ratio of 4.90, a quick ratio of 3.78 and a debt-to-equity ratio of 0.76. Ferrari N.V. has a 52 week low of $372.31 and a 52 week high of $519.10. The firm’s 50 day moving average is $440.44 and its two-hundred day moving average is $465.20. The firm has a market capitalization of $101.28 billion, a P/E ratio of 42.21, a PEG ratio of 4.61 and a beta of 1.07.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Tuesday, November 4th. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.15. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Ferrari had a return on equity of 44.20% and a net margin of 22.65%. Ferrari has set its FY 2025 guidance at 10.290- EPS. Analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on RACE shares. Citigroup lowered their price objective on Ferrari from $579.00 to $529.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. Zacks Research downgraded Ferrari from a “strong-buy” rating to a “hold” rating in a report on Friday, August 29th. Evercore ISI reduced their target price on shares of Ferrari from $580.00 to $475.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. UBS Group increased their price target on Ferrari from $529.00 to $554.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. cut their target price on shares of Ferrari from $460.00 to $457.00 and set an “overweight” rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned 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 a consensus price target of $504.29.

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.