Whittier Trust Co. Has $3.19 Million Position in Ferrari N.V. $RACE

Whittier Trust Co. boosted its holdings in Ferrari N.V. (NYSE:RACE) by 5.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,504 shares of the company’s stock after buying an additional 353 shares during the period. Whittier Trust Co.’s holdings in Ferrari were worth $3,192,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Klingman & Associates LLC bought a new stake in Ferrari in the second quarter valued at approximately $274,000. Pittenger & Anderson Inc. increased its stake in Ferrari by 178.6% in the second quarter. Pittenger & Anderson Inc. now owns 390 shares of the company’s stock valued at $191,000 after purchasing an additional 250 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Ferrari by 0.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 296,770 shares of the company’s stock valued at $145,273,000 after purchasing an additional 1,199 shares in the last quarter. International Assets Investment Management LLC increased its stake in Ferrari by 15.1% in the second quarter. International Assets Investment Management LLC now owns 3,120 shares of the company’s stock valued at $1,531,000 after purchasing an additional 409 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in Ferrari by 3.9% in the second quarter. Stratos Wealth Partners LTD. now owns 3,767 shares of the company’s stock valued at $1,849,000 after purchasing an additional 143 shares in the last quarter.

Wall Street Analyst Weigh In

RACE has been the subject of several recent analyst reports. Citigroup lowered their target price on shares of Ferrari from $579.00 to $529.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. Sanford C. Bernstein lowered their target price on shares of Ferrari from $554.00 to $475.00 and set an “outperform” rating for the company in a research note on Friday, October 10th. Berenberg Bank set a $570.00 target price on shares of Ferrari in a research note on Friday, October 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferrari in a research note on Monday, August 4th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ferrari in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $505.50.

Ferrari Stock Up 0.5%

Shares of RACE stock opened at $400.19 on Wednesday. The firm has a fifty day moving average of $463.41 and a 200-day moving average of $468.25. 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 12-month low of $372.31 and a 12-month high of $519.10. The company has a market capitalization of $97.00 billion, a price-to-earnings ratio of 41.30, a P/E/G ratio of 4.22 and a beta of 1.08.

Ferrari (NYSE:RACE) last issued 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 net margin of 22.95% and a return on equity of 45.41%. The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the firm earned $2.29 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, equities research analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

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.