TD Private Client Wealth LLC Reduces Stock Position in Ferrari N.V. $RACE

TD Private Client Wealth LLC lowered its stake in Ferrari N.V. (NYSE:RACE) by 37.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 250 shares of the company’s stock after selling 147 shares during the quarter. TD Private Client Wealth LLC’s holdings in Ferrari were worth $122,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Maseco LLP bought a new position in Ferrari in the second quarter worth approximately $75,000. Compagnie Lombard Odier SCmA increased its holdings in Ferrari by 0.9% in the 2nd quarter. Compagnie Lombard Odier SCmA now owns 166,984 shares of the company’s stock valued at $81,557,000 after acquiring an additional 1,411 shares during the last quarter. GAMMA Investing LLC increased its holdings in Ferrari by 41.2% in the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock valued at $35,000 after acquiring an additional 21 shares during the last quarter. Park Avenue Securities LLC increased its holdings in Ferrari by 1.3% in the 2nd quarter. Park Avenue Securities LLC now owns 3,462 shares of the company’s stock valued at $1,691,000 after acquiring an additional 45 shares during the last quarter. Finally, Physician Wealth Advisors Inc. increased its holdings in Ferrari by 179.2% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 148 shares of the company’s stock valued at $73,000 after acquiring an additional 95 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RACE. Deutsche Bank Aktiengesellschaft upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, September 2nd. Cfra Research downgraded shares of Ferrari from a “hold” rating to a “moderate sell” rating in a report on Thursday, July 31st. Citigroup reiterated a “sell” rating on shares of Ferrari in a report on Monday, August 11th. Zacks Research downgraded shares of Ferrari from a “strong-buy” rating to a “hold” rating in a report on Friday, August 29th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Ferrari in a report on Monday, August 4th. Eight 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $531.67.

Ferrari Price Performance

RACE stock opened at $481.04 on Tuesday. Ferrari N.V. has a 12 month low of $391.54 and a 12 month high of $519.10. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89. The company has a 50-day moving average price of $474.65 and a 200 day moving average price of $468.27. The stock has a market cap of $116.59 billion, a PE ratio of 49.64, a P/E/G ratio of 3.83 and a beta of 1.09.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, topping 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 analysts’ expectations of $2.05 billion. During the same period in the previous year, the company earned $2.29 EPS. The firm’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. Equities research analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current 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.