J.W. Cole Advisors Inc. Acquires 2,865 Shares of Ferrari N.V. $RACE

J.W. Cole Advisors Inc. raised its stake in shares of Ferrari N.V. (NYSE:RACE) by 444.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,509 shares of the company’s stock after purchasing an additional 2,865 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Ferrari were worth $1,722,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of RACE. Vanguard Group Inc. lifted its position in shares of Ferrari by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company’s stock worth $2,165,683,000 after buying an additional 377,929 shares during the period. Goldman Sachs Group Inc. raised its stake in Ferrari by 52.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company’s stock worth $974,332,000 after acquiring an additional 781,587 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Ferrari by 9.1% during the second quarter. Jennison Associates LLC now owns 1,841,200 shares of the company’s stock valued at $903,019,000 after acquiring an additional 153,297 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Ferrari by 1.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,822,147 shares of the company’s stock valued at $779,661,000 after purchasing an additional 25,883 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Ferrari by 8.1% in the 1st quarter. Alliancebernstein L.P. now owns 1,767,337 shares of the company’s stock worth $756,208,000 after purchasing an additional 131,945 shares during the last quarter.

Analyst Ratings Changes

Several brokerages recently issued reports on RACE. UBS Group reissued a “buy” rating and set a $563.00 price target on shares of Ferrari in a report on Friday. HSBC upgraded shares of Ferrari from a “hold” rating to a “buy” rating and set a $470.00 target price for the company in a research note on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, September 2nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ferrari in a research report on Monday, August 4th. Finally, Hsbc Global Res upgraded Ferrari from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Ferrari currently has an average rating of “Buy” and an average target price of $499.13.

Ferrari Stock Up 1.9%

Shares of NYSE:RACE opened at $390.11 on Friday. The company has a 50 day moving average of $421.07 and a 200-day moving average of $459.11. The stock has a market cap of $94.56 billion, a price-to-earnings ratio of 39.41, a P/E/G ratio of 4.05 and a beta of 1.07. Ferrari N.V. has a one year low of $372.31 and a one 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 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 analyst estimates 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. On average, sell-side analysts forecast that Ferrari N.V. will post 9.22 earnings per share for the current year.

Ferrari Company 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.