HB Wealth Management LLC Has $340,000 Stock Holdings in Ferrari N.V. $RACE

HB Wealth Management LLC decreased its position in Ferrari N.V. (NYSE:RACE) by 26.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 692 shares of the company’s stock after selling 243 shares during the period. HB Wealth Management LLC’s holdings in Ferrari were worth $340,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Sound View Wealth Advisors Group LLC raised its stake in shares of Ferrari by 1.0% in the first quarter. Sound View Wealth Advisors Group LLC now owns 2,198 shares of the company’s stock valued at $940,000 after purchasing an additional 21 shares in the last quarter. GAMMA Investing LLC boosted its position in Ferrari by 41.2% in the second quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock valued at $35,000 after buying an additional 21 shares in the last quarter. Rehmann Capital Advisory Group grew its holdings in shares of Ferrari by 3.9% during the first quarter. Rehmann Capital Advisory Group now owns 697 shares of the company’s stock worth $299,000 after purchasing an additional 26 shares during the last quarter. Aviso Financial Inc. boosted its position in Ferrari by 1.1% in the 1st quarter. Aviso Financial Inc. now owns 2,835 shares of the company’s stock valued at $1,213,000 after buying an additional 30 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd boosted its holdings in Ferrari by 42.9% in the first quarter. Gordian Capital Singapore Pte Ltd now owns 100 shares of the company’s stock valued at $43,000 after acquiring an additional 30 shares during the last quarter.

Ferrari Stock Down 2.1%

RACE stock opened at $490.64 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. The stock has a market capitalization of $118.92 billion, a P/E ratio of 50.63, a P/E/G ratio of 4.04 and a beta of 1.08. Ferrari N.V. has a fifty-two week low of $391.54 and a fifty-two week high of $519.10. The business has a 50-day moving average of $472.86 and a 200-day moving average of $469.92.

Ferrari (NYSE:RACE) last announced its quarterly earnings data 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 business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the firm posted $2.29 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Ferrari has set its FY 2025 guidance at 9.751- EPS. On average, sell-side analysts anticipate that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RACE. Hsbc Global Res raised shares of Ferrari from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. Citigroup reiterated a “sell” rating on shares of Ferrari in a report on Monday, August 11th. Royal Bank Of Canada reissued an “outperform” rating on shares of Ferrari in a research note on Monday, August 4th. Berenberg Bank set a $570.00 target price on Ferrari in a research report on Friday. Finally, UBS Group upped their price target on Ferrari from $570.00 to $579.00 and gave the company a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ferrari presently has an average rating of “Moderate Buy” and an average price target of $528.80.

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.