Groupe la Francaise decreased its holdings in shares of Ferrari N.V. (NYSE:RACE – Free Report) by 21.5% during the second quarter, HoldingsChannel reports. The fund owned 278,699 shares of the company’s stock after selling 76,398 shares during the quarter. Ferrari comprises about 1.2% of Groupe la Francaise’s investment portfolio, making the stock its 19th biggest holding. Groupe la Francaise’s holdings in Ferrari were worth $97,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in RACE. Fideuram Asset Management Ireland dac bought a new stake in shares of Ferrari during the 4th quarter valued at $29,000. Entrust Financial LLC bought a new position in Ferrari in the 4th quarter worth about $33,000. Bellevue Asset Management LLC bought a new position in Ferrari in the 1st quarter worth about $34,000. Bamco Inc. NY grew its holdings in Ferrari by 790.9% during the 4th quarter. Bamco Inc. NY now owns 98 shares of the company’s stock valued at $36,000 after buying an additional 87 shares in the last quarter. Finally, Dunhill Financial LLC purchased a new position in Ferrari during the 2nd quarter valued at about $38,000.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on RACE. Morgan Stanley reissued an “overweight” rating and issued a $442.00 price target on shares of Ferrari in a report on Friday, July 31st. UBS Group reduced their price objective on shares of Ferrari from $497.00 to $490.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Needham & Company LLC raised shares of Ferrari to a “neutral” rating in a report on Friday, July 31st. Citigroup reiterated a “neutral” rating on shares of Ferrari in a research note on Monday, August 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ferrari in a report on Wednesday, July 8th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $477.15.
More Ferrari News
Here are the key news stories impacting Ferrari this week:
- Positive Sentiment: Brokerages have assigned Ferrari a consensus price target of $477.15, suggesting meaningful potential upside from recent trading levels and continued confidence in the company’s earnings outlook. Ferrari N.V. Receives $477.15 Consensus Target Price from Brokerages
- Positive Sentiment: Ferrari remains positioned to influence the World Endurance Championship title race, providing additional global exposure for the brand and reinforcing its motorsport credentials. Ferrari poised to play spoiler as WEC title race heats up
- Neutral Sentiment: Coverage of Ferrari’s F8 competing against a Porsche 992 Turbo S highlights the performance appeal of its products, though the informal drag race is unlikely to have a material financial impact. Ferrari F8 faces Porsche 992 Turbo S in drag race
- Neutral Sentiment: Ferrari’s Monza starting lineup and reports of relief despite missing pole provide visibility at the company’s home race, but offer limited direct information about Ferrari N.V.’s financial performance. Formula 1 starting lineup for race in Monza Ferrari at the Monza home race
- Negative Sentiment: Charles Leclerc’s heavy crash and retirement from the Italian Grand Prix produced unfavorable headlines and spoiled Ferrari’s home-race result, potentially weakening near-term brand and team sentiment. Charles Leclerc out of Italian Grand Prix after crash Ferrari catastrophic start at home race
- Negative Sentiment: Commentary describing Ferrari’s “vintage disaster-class” and Lewis Hamilton’s frustration reinforces concerns about execution and competitiveness, adding to the negative F1 narrative. Ferrari’s vintage disaster-class at Italian GP Lewis Hamilton frustration explained
Ferrari Stock Performance
Shares of NYSE RACE opened at $409.90 on Monday. The stock’s 50-day moving average is $396.45 and its 200 day moving average is $364.60. The stock has a market cap of $95.90 billion, a price-to-earnings ratio of 38.06, a P/E/G ratio of 3.52 and a beta of 0.92. Ferrari N.V. has a 1-year low of $312.51 and a 1-year high of $504.49. The company has a current ratio of 4.85, a quick ratio of 3.70 and a debt-to-equity ratio of 0.86.
Ferrari (NYSE:RACE – Get Free Report) last issued its earnings results on Friday, July 31st. The company reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.16. Ferrari had a return on equity of 42.83% and a net margin of 22.29%.The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the prior year, the firm earned $2.38 earnings per share. Ferrari’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, sell-side analysts anticipate that Ferrari N.V. will post 11.18 EPS for the current fiscal year.
Ferrari Profile
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.
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