MQS Management LLC Buys Shares of 575 Ferrari N.V. $RACE

MQS Management LLC bought a new stake in Ferrari N.V. (NYSE:RACE) during the second quarter, HoldingsChannel.com reports. The firm bought 575 shares of the company’s stock, valued at approximately $282,000.

Other large investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its holdings in shares of Ferrari by 52.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company’s stock valued at $974,332,000 after acquiring an additional 781,587 shares in the last quarter. Groupe la Francaise acquired a new stake in shares of Ferrari during the 1st quarter valued at $238,818,000. Nuveen LLC acquired a new stake in shares of Ferrari during the 1st quarter valued at $233,200,000. Vanguard Group Inc. boosted its holdings 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 valued at $2,165,683,000 after acquiring an additional 377,929 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Ferrari by 155.1% during the 1st quarter. Citigroup Inc. now owns 269,862 shares of the company’s stock valued at $115,469,000 after acquiring an additional 164,092 shares in the last quarter.

Ferrari Stock Performance

RACE stock opened at $407.42 on Tuesday. The stock has a 50-day moving average price of $458.86 and a 200-day moving average price of $468.40. Ferrari N.V. has a 1-year low of $372.31 and a 1-year high of $519.10. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89. The firm has a market cap of $98.75 billion, a PE ratio of 42.05, a price-to-earnings-growth ratio of 4.33 and a beta of 1.08.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share 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 firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the company posted $2.29 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, equities research analysts expect that Ferrari N.V. will post 9.22 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Hsbc Global Res raised Ferrari from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. Berenberg Bank set a $570.00 price objective on Ferrari in a report on Friday, October 3rd. UBS Group cut their price objective on Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ferrari in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft raised Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Ferrari presently has a consensus rating of “Buy” and an average target price of $505.50.

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.