Stratos Wealth Partners LTD. Raises Stock Position in Ferrari N.V. $RACE

Stratos Wealth Partners LTD. boosted its holdings in Ferrari N.V. (NYSE:RACE) by 3.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 3,767 shares of the company’s stock after purchasing an additional 143 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Ferrari were worth $1,849,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Allianz Asset Management GmbH increased its stake in Ferrari by 26.1% in the 2nd quarter. Allianz Asset Management GmbH now owns 156,779 shares of the company’s stock worth $76,937,000 after buying an additional 32,491 shares in the last quarter. Rheos Capital Works Inc. increased its stake in Ferrari by 14.1% in the 2nd quarter. Rheos Capital Works Inc. now owns 161,700 shares of the company’s stock worth $79,353,000 after buying an additional 20,000 shares in the last quarter. Generali Asset Management SPA SGR increased its stake in Ferrari by 3.4% in the 2nd quarter. Generali Asset Management SPA SGR now owns 43,205 shares of the company’s stock worth $21,202,000 after buying an additional 1,405 shares in the last quarter. Harbour Investments Inc. increased its stake in Ferrari by 11.8% in the 2nd quarter. Harbour Investments Inc. now owns 466 shares of the company’s stock worth $229,000 after buying an additional 49 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in Ferrari by 1.1% in the 2nd quarter. TD Asset Management Inc now owns 415,850 shares of the company’s stock worth $203,677,000 after buying an additional 4,434 shares in the last quarter.

Ferrari Trading Down 0.0%

Shares of RACE stock opened at $398.92 on Tuesday. Ferrari N.V. has a 1 year low of $372.31 and a 1 year high of $519.10. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94. The stock’s 50 day simple moving average is $464.33 and its two-hundred day simple moving average is $468.73. The company has a market cap of $96.69 billion, a PE ratio of 41.17, a price-to-earnings-growth ratio of 4.23 and a beta of 1.08.

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

Wall Street Analyst Weigh In

RACE has been the subject of several research reports. Deutsche Bank Aktiengesellschaft raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, September 2nd. Citigroup dropped their price objective on shares of Ferrari from $579.00 to $529.00 and set a “buy” rating for the company in a report on Thursday, October 16th. HSBC raised shares of Ferrari from a “hold” rating to a “buy” rating and set a $470.00 price objective for the company in a report on Thursday, October 2nd. Zacks Research downgraded shares of Ferrari from a “strong-buy” rating to a “hold” rating in a report on Friday, August 29th. Finally, Hsbc Global Res raised shares of Ferrari from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Ferrari has a consensus rating of “Buy” and an average target price of $514.00.

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.