Advisors Capital Management LLC Acquires 89 Shares of Ferrari N.V. $RACE

Advisors Capital Management LLC raised its holdings in Ferrari N.V. (NYSE:RACE) by 11.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 837 shares of the company’s stock after acquiring an additional 89 shares during the quarter. Advisors Capital Management LLC’s holdings in Ferrari were worth $358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Ferrari by 60.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 148 shares of the company’s stock worth $63,000 after purchasing an additional 56 shares during the period. NorthRock Partners LLC raised its holdings in Ferrari by 6.0% in the fourth quarter. NorthRock Partners LLC now owns 617 shares of the company’s stock worth $262,000 after purchasing an additional 35 shares during the period. Quantinno Capital Management LP raised its holdings in Ferrari by 9.2% in the fourth quarter. Quantinno Capital Management LP now owns 11,734 shares of the company’s stock worth $4,996,000 after purchasing an additional 985 shares during the period. Raiffeisen Bank International AG acquired a new stake in Ferrari in the fourth quarter worth $444,000. Finally, Silvercrest Asset Management Group LLC raised its holdings in Ferrari by 0.4% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 22,174 shares of the company’s stock worth $9,420,000 after purchasing an additional 92 shares during the period.

Ferrari Stock Performance

Shares of RACE stock opened at $477.89 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.94 and a current ratio of 5.09. The company has a market capitalization of $115.83 billion, a price-to-earnings ratio of 49.32, a PEG ratio of 5.46 and a beta of 1.10. Ferrari N.V. has a 52 week low of $391.54 and a 52 week high of $519.10. The company has a 50-day simple moving average of $478.37 and a 200 day simple moving average of $466.10.

Ferrari (NYSE:RACE) last posted its quarterly earnings data 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. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the firm posted $2.29 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Ferrari has set its FY 2025 guidance at 9.751- EPS. On average, sell-side analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RACE shares. UBS Group increased their target price on shares of Ferrari from $540.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Zacks Research lowered shares of Ferrari from a “strong-buy” rating to a “hold” rating in a report on Friday, August 29th. Deutsche Bank Aktiengesellschaft upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, September 2nd. Cfra Research lowered shares of Ferrari from a “hold” rating to a “moderate sell” rating in a research note on Thursday, July 31st. Finally, Citigroup restated a “sell” rating on shares of Ferrari in a research note on Monday, August 11th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ferrari has an average rating of “Moderate Buy” and a consensus price target of $531.67.

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.