Equitable Trust Co. Has $2.70 Million Position in Ferrari N.V. $RACE

Equitable Trust Co. reduced its position in shares of Ferrari N.V. (NYSE:RACE) by 44.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,495 shares of the company’s stock after selling 4,386 shares during the period. Equitable Trust Co.’s holdings in Ferrari were worth $2,697,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in RACE. Goldman Sachs Group Inc. lifted its holdings in Ferrari by 52.3% during the 1st 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 last quarter. Groupe la Francaise acquired a new position in Ferrari in the 1st quarter valued at $238,818,000. Nuveen LLC acquired a new position in Ferrari in the 1st quarter valued at $233,200,000. Vanguard Group Inc. raised its holdings in Ferrari by 8.1% in 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. raised its holdings in Ferrari by 155.1% in 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.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Sanford C. Bernstein dropped their price objective on Ferrari from $554.00 to $475.00 and set an “outperform” rating for the company in a report on Friday. Hsbc Global Res raised Ferrari from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. Zacks Research cut Ferrari from a “strong-buy” rating to a “hold” rating in a report on Friday, August 29th. Berenberg Bank set a $570.00 price objective on Ferrari in a report on Friday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft raised Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $519.83.

Ferrari Trading Up 1.0%

NYSE RACE opened at $382.60 on Wednesday. The company has a market cap of $92.74 billion, a price-to-earnings ratio of 39.48, a price-to-earnings-growth ratio of 4.01 and a beta of 1.08. Ferrari N.V. has a twelve month low of $372.31 and a twelve month high of $519.10. The company has a quick ratio of 3.94, a current ratio of 5.09 and a debt-to-equity ratio of 0.89. The business’s fifty day moving average is $468.29 and its 200 day moving average is $469.39.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Thursday, July 31st. The company reported $2.70 earnings per share 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 analyst estimates of $2.05 billion. Ferrari had a return on equity of 45.41% and a net margin of 22.95%.Ferrari’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.29 EPS. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, sell-side analysts expect 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.