J. Safra Sarasin Holding AG Increases Position in Ferrari N.V. $RACE

J. Safra Sarasin Holding AG grew its position in shares of Ferrari N.V. (NYSE:RACE) by 1.7% during the second quarter, Holdings Channel reports. The firm owned 17,398 shares of the company’s stock after acquiring an additional 291 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Ferrari were worth $8,551,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Ferrari by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 5,071,130 shares of the company’s stock worth $2,165,683,000 after acquiring an additional 377,929 shares in the last quarter. Bank of Italy grew its position in Ferrari by 2.9% in the 1st quarter. Bank of Italy now owns 2,407,271 shares of the company’s stock valued at $1,021,078,000 after acquiring an additional 67,651 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Ferrari by 52.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,277,115 shares of the company’s stock worth $974,332,000 after purchasing an additional 781,587 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Ferrari by 1.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,822,147 shares of the company’s stock worth $779,661,000 after purchasing an additional 25,883 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Ferrari by 8.1% in the first quarter. Alliancebernstein L.P. now owns 1,767,337 shares of the company’s stock valued at $756,208,000 after purchasing an additional 131,945 shares during the period.

Ferrari Trading Up 2.7%

Shares of Ferrari stock opened at $503.50 on Friday. 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 N.V. has a 12-month low of $391.54 and a 12-month high of $519.10. The stock has a market cap of $122.04 billion, a price-to-earnings ratio of 51.96, a PEG ratio of 3.95 and a beta of 1.08. The company has a fifty day simple moving average of $473.53 and a 200-day simple moving average of $468.87.

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

Analyst Ratings Changes

Several brokerages recently weighed in on RACE. HSBC raised shares of Ferrari from a “hold” rating to a “buy” rating and set a $470.00 target price on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, September 2nd. UBS Group boosted their target price on Ferrari from $540.00 to $570.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Cfra Research downgraded Ferrari from a “hold” rating to a “moderate sell” rating in a report on Thursday, July 31st. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Ferrari in a research note on Monday, August 4th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Ferrari presently has an average rating of “Moderate Buy” and an average price target of $516.25.

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.