Ferrari N.V. $RACE Shares Bought by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR boosted its holdings in shares of Ferrari N.V. (NYSE:RACE) by 28.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,690 shares of the company’s stock after purchasing an additional 12,485 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Ferrari were worth $27,022,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Groupama Asset Managment lifted its position in shares of Ferrari by 24,598.5% during the 2nd quarter. Groupama Asset Managment now owns 16,073,800 shares of the company’s stock valued at $7,888,057,000 after buying an additional 16,008,720 shares in the last quarter. Norges Bank acquired a new position in Ferrari during the second quarter worth $885,051,000. Viking Global Investors LP raised its position in Ferrari by 432.7% during the second quarter. Viking Global Investors LP now owns 721,269 shares of the company’s stock worth $353,526,000 after acquiring an additional 585,872 shares during the period. American Century Companies Inc. acquired a new position in Ferrari during the second quarter worth $109,526,000. Finally, Tableaux LLC purchased a new position in Ferrari during the second quarter valued at $97,299,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RACE. Citigroup cut their target price on shares of Ferrari from $579.00 to $529.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. The Goldman Sachs Group upgraded Ferrari to a “strong-buy” rating in a report on Monday, November 24th. HSBC upgraded Ferrari from a “hold” rating to a “buy” rating and set a $470.00 price objective for the company in a research note on Thursday, October 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of Ferrari in a research report on Monday. Finally, Evercore ISI dropped their price target on Ferrari from $580.00 to $475.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Four analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Ferrari currently has a consensus rating of “Buy” and an average target price of $489.47.

Ferrari Trading Down 0.8%

RACE opened at $369.48 on Friday. The firm has a market capitalization of $89.55 billion, a price-to-earnings ratio of 37.32, a price-to-earnings-growth ratio of 4.06 and a beta of 1.01. The company’s 50 day simple moving average is $388.67 and its two-hundred day simple moving average is $441.20. Ferrari N.V. has a 1-year low of $356.93 and a 1-year high of $519.10. 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 (NYSE:RACE) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.35 by $0.15. Ferrari had a return on equity of 44.20% and a net margin of 22.65%.The firm had revenue of $2.07 billion during 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 EPS for the current fiscal year.

Ferrari Company 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.