Ferrari (NYSE:RACE) Receives “Hold” Rating from HSBC

Ferrari (NYSE:RACE)‘s stock had its “hold” rating reaffirmed by research analysts at HSBC in a report released on Tuesday, Marketbeat Ratings reports.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of Ferrari from $460.00 to $457.00 and set an “overweight” rating for the company in a research note on Wednesday, November 12th. Barclays set a $420.00 price target on Ferrari and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. Oddo Bhf downgraded shares of Ferrari to a “neutral” rating in a report on Wednesday, December 10th. Evercore ISI reduced their target price on shares of Ferrari from $580.00 to $475.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Finally, Loop Capital set a $481.67 price target on shares of Ferrari in a research note on Thursday, December 4th. Four research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $480.67.

Ferrari Trading Up 0.3%

NYSE RACE opened at $377.24 on Tuesday. Ferrari has a one year low of $356.93 and a one year high of $519.10. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.90 and a quick ratio of 3.78. The firm has a market cap of $91.44 billion, a P/E ratio of 38.10, a P/E/G ratio of 4.00 and a beta of 1.01. The stock’s 50-day moving average is $384.95 and its 200-day moving average is $436.32.

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

Institutional Trading of Ferrari

A number of hedge funds have recently made changes to their positions in the business. Callan Family Office LLC grew its position in shares of Ferrari by 58.5% in the second quarter. Callan Family Office LLC now owns 4,378 shares of the company’s stock valued at $2,148,000 after purchasing an additional 1,615 shares during the last quarter. TD Asset Management Inc boosted its stake in Ferrari by 1.1% in the 2nd quarter. TD Asset Management Inc now owns 415,850 shares of the company’s stock valued at $203,677,000 after purchasing an additional 4,434 shares during the period. Rheos Capital Works Inc. grew its holdings in Ferrari by 33.1% in the 3rd quarter. Rheos Capital Works Inc. now owns 215,200 shares of the company’s stock valued at $104,419,000 after buying an additional 53,500 shares in the last quarter. Generali Asset Management SPA SGR increased its position in Ferrari by 28.9% during the 3rd quarter. Generali Asset Management SPA SGR now owns 55,690 shares of the company’s stock worth $27,022,000 after buying an additional 12,485 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased 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 buying an additional 2,220 shares during the period.

About Ferrari

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.