Ferrari N.V. $RACE is Bank of Italy’s Largest Position

Bank of Italy lifted its position in shares of Ferrari N.V. (NYSE:RACE) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,462,771 shares of the company’s stock after acquiring an additional 55,500 shares during the quarter. Ferrari accounts for about 57.3% of Bank of Italy’s holdings, making the stock its biggest position. Bank of Italy owned about 1.02% of Ferrari worth $1,190,158,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Groupama Asset Managment grew its holdings in Ferrari by 24,598.5% in the second quarter. Groupama Asset Managment now owns 16,073,800 shares of the company’s stock valued at $7,888,057,000 after purchasing an additional 16,008,720 shares during the last quarter. Norges Bank acquired a new position in shares of Ferrari during the 2nd quarter worth $885,051,000. Bank of New York Mellon Corp boosted its position in shares of Ferrari by 63.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,670,762 shares of the company’s stock worth $1,295,907,000 after buying an additional 1,039,234 shares in the last quarter. Viking Global Investors LP grew its stake in Ferrari by 432.7% in the 2nd quarter. Viking Global Investors LP now owns 721,269 shares of the company’s stock valued at $353,526,000 after acquiring an additional 585,872 shares during the last quarter. Finally, American Century Companies Inc. purchased a new position in Ferrari during the 2nd quarter valued at about $109,526,000.

Wall Street Analyst Weigh In

RACE has been the topic of several recent research reports. HSBC reaffirmed a “hold” rating on shares of Ferrari in a report on Tuesday, January 13th. BNP Paribas Exane raised Ferrari to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ferrari in a report on Monday, December 29th. Loop Capital set a $481.67 price target on Ferrari in a report on Thursday, December 4th. Finally, The Goldman Sachs Group upgraded Ferrari to a “strong-buy” rating in a research report on Monday, November 24th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Ferrari currently has an average rating of “Moderate Buy” and an average target price of $480.67.

Ferrari Trading Down 1.6%

Shares of RACE opened at $333.00 on Friday. Ferrari N.V. has a fifty-two week low of $331.01 and a fifty-two week high of $519.10. The company has a market capitalization of $80.71 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 3.68 and a beta of 1.01. The stock has a fifty day moving average of $367.32 and a two-hundred day moving average of $422.23. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.78 and a current ratio of 4.90.

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