Bank of New York Mellon Corp Boosts Stock Holdings in Ferrari N.V. $RACE

Bank of New York Mellon Corp increased its position in shares of Ferrari N.V. (NYSE:RACE) by 63.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,670,762 shares of the company’s stock after buying an additional 1,039,234 shares during the period. Bank of New York Mellon Corp owned 1.10% of Ferrari worth $1,295,907,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Ferrari by 41.2% during the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock worth $35,000 after acquiring an additional 21 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in Ferrari by 3.7% in the 2nd quarter. Benjamin Edwards Inc. now owns 613 shares of the company’s stock worth $299,000 after purchasing an additional 22 shares during the period. Allworth Financial LP boosted its position in Ferrari by 7.5% during the second quarter. Allworth Financial LP now owns 330 shares of the company’s stock worth $162,000 after purchasing an additional 23 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in Ferrari by 2.2% in the second quarter. Valeo Financial Advisors LLC now owns 1,086 shares of the company’s stock valued at $532,000 after purchasing an additional 23 shares during the period. Finally, Certuity LLC increased its position in shares of Ferrari by 4.5% in the second quarter. Certuity LLC now owns 582 shares of the company’s stock valued at $285,000 after buying an additional 25 shares in the last quarter.

Ferrari Stock Performance

NYSE:RACE opened at $337.26 on Wednesday. The company has a market cap of $81.75 billion, a P/E ratio of 34.07, a P/E/G ratio of 3.67 and a beta of 1.01. Ferrari N.V. has a twelve month low of $333.34 and a twelve month high of $519.10. The company’s 50-day moving average price is $370.45 and its 200-day moving average price is $424.99. The company has a current ratio of 4.90, a quick ratio of 3.78 and a debt-to-equity ratio of 0.76.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RACE shares. Citigroup decreased their target price on Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Berenberg Bank set a $570.00 price objective on shares of Ferrari in a report on Friday, October 3rd. Barclays set a $420.00 target price on shares of Ferrari and gave the company an “overweight” rating in a research report on Tuesday, December 9th. Hsbc Global Res downgraded shares of Ferrari from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 13th. Finally, Evercore ISI lowered their price objective on Ferrari from $580.00 to $475.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ferrari currently has a consensus rating of “Moderate Buy” and a consensus target price of $480.67.

About Ferrari

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.