Barings LLC Makes New Investment in Ferrari N.V. $RACE

Barings LLC bought a new position in Ferrari N.V. (NYSE:RACE) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,291 shares of the company’s stock, valued at approximately $1,613,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Callan Family Office LLC boosted its holdings in shares of Ferrari by 58.5% in the second quarter. Callan Family Office LLC now owns 4,378 shares of the company’s stock worth $2,148,000 after acquiring an additional 1,615 shares during the period. TD Asset Management Inc raised its stake in shares of Ferrari by 1.1% during the 2nd quarter. TD Asset Management Inc now owns 415,850 shares of the company’s stock valued at $203,677,000 after purchasing an additional 4,434 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Ferrari by 26.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,599 shares of the company’s stock worth $5,205,000 after purchasing an additional 2,220 shares in the last quarter. Rheos Capital Works Inc. boosted its stake in Ferrari by 14.1% in the 2nd quarter. Rheos Capital Works Inc. now owns 161,700 shares of the company’s stock worth $79,353,000 after purchasing an additional 20,000 shares during the period. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Ferrari in the 2nd quarter worth about $640,000.

Ferrari Trading Up 1.5%

Shares of Ferrari stock opened at $388.85 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.90 and a quick ratio of 3.78. Ferrari N.V. has a 1 year low of $372.31 and a 1 year high of $519.10. The firm has a market cap of $94.25 billion, a PE ratio of 39.28, a PEG ratio of 4.12 and a beta of 1.07. The company has a 50 day simple moving average of $430.48 and a two-hundred day simple moving average of $462.41.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.15. Ferrari had a net margin of 22.65% and a return on equity of 44.20%. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Ferrari has set its FY 2025 guidance at 10.290- EPS. Analysts expect that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RACE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Ferrari from $460.00 to $457.00 and set an “overweight” rating on the stock in a report on Wednesday, November 12th. Citigroup decreased their target price on shares of Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Cfra Research cut shares of Ferrari from a “hold” rating to a “moderate sell” rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, September 2nd. Finally, UBS Group upped their price target on shares of Ferrari from $529.00 to $554.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $504.29.

Ferrari Profile

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.