Parisi Gray Wealth Management Has $640,000 Position in Ferrari N.V. $RACE

Parisi Gray Wealth Management cut its stake in shares of Ferrari N.V. (NYSE:RACE) by 7.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,310 shares of the company’s stock after selling 102 shares during the period. Parisi Gray Wealth Management’s holdings in Ferrari were worth $640,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. GW&K Investment Management LLC lifted its stake in Ferrari by 288.9% during the 1st quarter. GW&K Investment Management LLC now owns 70 shares of the company’s stock valued at $30,000 after acquiring an additional 52 shares in the last quarter. Park Square Financial Group LLC bought a new position in Ferrari during the 4th quarter valued at $32,000. Alpine Bank Wealth Management bought a new position in Ferrari during the 1st quarter valued at $33,000. Brooklyn Investment Group lifted its stake in Ferrari by 381.3% during the 1st quarter. Brooklyn Investment Group now owns 77 shares of the company’s stock valued at $33,000 after acquiring an additional 61 shares in the last quarter. Finally, Webster Bank N. A. bought a new position in Ferrari during the 1st quarter valued at $43,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Cfra Research cut Ferrari from a “hold” rating to a “moderate sell” rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, September 2nd. Zacks Research cut Ferrari from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 29th. UBS Group lifted 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. Finally, Citigroup restated a “sell” rating on shares of Ferrari in a research note on Monday, August 11th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Ferrari currently has an average rating of “Moderate Buy” and an average target price of $531.67.

Ferrari Stock Down 0.3%

Shares of NYSE RACE opened at $477.89 on Monday. Ferrari N.V. has a 12 month low of $391.54 and a 12 month high of $519.10. The company has a current ratio of 5.09, a quick ratio of 3.94 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $115.83 billion, a price-to-earnings ratio of 49.32, a PEG ratio of 5.45 and a beta of 1.09. The business has a 50-day moving average of $478.37 and a 200-day moving average of $466.15.

Ferrari (NYSE:RACE) last issued its earnings results on Thursday, July 31st. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.13. The business had revenue of $2.12 billion during 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 revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. Sell-side analysts expect that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

Ferrari 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.