Atlantic Union Bankshares Corp Acquires New Shares in Ferrari N.V. $RACE

Atlantic Union Bankshares Corp bought a new position in shares of Ferrari N.V. (NYSE:RACE) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 244 shares of the company’s stock, valued at approximately $120,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GW&K Investment Management LLC raised its position in shares of Ferrari by 288.9% during the first quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock worth $30,000 after purchasing an additional 52 shares during the period. Brooklyn Investment Group increased its stake in Ferrari by 381.3% during the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock worth $33,000 after purchasing an additional 61 shares in the last quarter. GAMMA Investing LLC raised its holdings in Ferrari by 41.2% during the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock worth $35,000 after buying an additional 21 shares during the period. Creekmur Asset Management LLC lifted its stake in Ferrari by 660.0% in the second quarter. Creekmur Asset Management LLC now owns 76 shares of the company’s stock valued at $37,000 after buying an additional 66 shares in the last quarter. Finally, Centerpoint Advisors LLC bought a new position in Ferrari in the first quarter valued at approximately $43,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RACE. Citigroup dropped their price objective on shares of Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Zacks Research downgraded Ferrari from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 29th. Berenberg Bank set a $570.00 price target on Ferrari in a report on Friday, October 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferrari in a research report on Monday, August 4th. Finally, UBS Group lifted their target price on Ferrari from $529.00 to $554.00 and gave the company a “buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $504.71.

Ferrari Trading Up 1.9%

Shares of NYSE:RACE opened at $413.27 on Monday. The company’s 50-day moving average price is $446.22 and its two-hundred day moving average price is $466.45. 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. The stock has a market capitalization of $100.17 billion, a PE ratio of 41.74, a price-to-earnings-growth ratio of 4.54 and a beta of 1.07.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.15. The company had revenue of $2.07 billion during 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. On average, equities analysts forecast that Ferrari N.V. will post 9.22 EPS for the current fiscal 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.