Prime Capital Investment Advisors LLC Reduces Stock Holdings in Ferrari N.V. $RACE

Prime Capital Investment Advisors LLC decreased its stake in Ferrari N.V. (NYSE:RACE) by 8.9% in the second quarter, Holdings Channel.com reports. The firm owned 3,505 shares of the company’s stock after selling 342 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Ferrari were worth $1,720,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GW&K Investment Management LLC boosted its holdings in shares of Ferrari by 288.9% in the 1st 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. GAMMA Investing LLC boosted its holdings in shares of Ferrari by 41.2% in the 2nd quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock worth $35,000 after purchasing an additional 21 shares during the period. Alpine Bank Wealth Management purchased a new position in shares of Ferrari in the 1st quarter worth approximately $33,000. Brooklyn Investment Group boosted its holdings in shares of Ferrari by 381.3% in the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock worth $33,000 after purchasing an additional 61 shares during the period. Finally, Centerpoint Advisors LLC purchased a new position in shares of Ferrari in the 1st quarter worth approximately $43,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, September 2nd. HSBC raised Ferrari from a “hold” rating to a “buy” rating and set a $470.00 price target for the company in a research note on Thursday, October 2nd. UBS Group raised their price target on Ferrari from $570.00 to $579.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Cfra Research lowered Ferrari from a “hold” rating to a “moderate sell” rating in a research note on Thursday, July 31st. Finally, Hsbc Global Res raised Ferrari from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $528.80.

Ferrari Price Performance

Shares of RACE stock opened at $478.86 on Thursday. Ferrari N.V. has a twelve month low of $391.54 and a twelve month high of $519.10. The stock has a market capitalization of $116.07 billion, a price-to-earnings ratio of 49.42, a P/E/G ratio of 3.95 and a beta of 1.08. The stock has a fifty day simple moving average of $472.15 and a two-hundred day simple moving average of $470.13. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89.

Ferrari (NYSE:RACE) last issued its earnings results 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 business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the prior year, the business earned $2.29 EPS. The business’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. On average, analysts predict that Ferrari N.V. will post 9.22 EPS for the current fiscal year.

About Ferrari

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.