Ferrari (NYSE:RACE) Sees Large Volume Increase – Here’s What Happened

Ferrari N.V. (NYSE:RACE) shares saw unusually-strong trading volume on Friday . Approximately 547,617 shares traded hands during mid-day trading, an increase of 26% from the previous session’s volume of 434,259 shares.The stock last traded at $406.00 and had previously closed at $407.38.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Sanford C. Bernstein reduced their price target on Ferrari from $554.00 to $475.00 and set an “outperform” rating on the stock in a research report on Friday. Berenberg Bank set a $570.00 target price on Ferrari in a research report on Friday, October 3rd. UBS Group boosted their price target on Ferrari from $570.00 to $579.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Cfra Research lowered Ferrari from a “hold” rating to a “moderate sell” rating in a research report on Thursday, July 31st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Ferrari in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $519.83.

Ferrari Stock Performance

The stock has a market capitalization of $95.81 billion, a P/E ratio of 40.79, a P/E/G ratio of 3.19 and a beta of 1.08. The stock has a 50 day moving average of $470.68 and a 200 day moving average of $470.05. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.94 and a current ratio of 5.09.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.13. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the prior year, the business posted $2.29 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Ferrari has set its FY 2025 guidance at 9.751- EPS. Equities analysts predict that Ferrari N.V. will post 9.22 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Contravisory Investment Management Inc. boosted its stake in Ferrari by 6.8% during the third quarter. Contravisory Investment Management Inc. now owns 615 shares of the company’s stock valued at $298,000 after buying an additional 39 shares in the last quarter. Marshall Financial Group LLC boosted its position in shares of Ferrari by 3.6% in the 3rd quarter. Marshall Financial Group LLC now owns 2,581 shares of the company’s stock valued at $1,252,000 after purchasing an additional 90 shares during the period. Bennett Selby Investments LP lifted its stake in Ferrari by 6.5% in the 3rd quarter. Bennett Selby Investments LP now owns 2,462 shares of the company’s stock worth $1,195,000 after acquiring an additional 150 shares in the last quarter. Family Legacy Financial Solutions LLC lifted its stake in Ferrari by 44.3% in the 3rd quarter. Family Legacy Financial Solutions LLC now owns 427 shares of the company’s stock worth $207,000 after acquiring an additional 131 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Ferrari by 65.3% in the 3rd quarter. GAMMA Investing LLC now owns 119 shares of the company’s stock worth $58,000 after acquiring an additional 47 shares in the last quarter.

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.