Logan Capital Management Inc. Lowers Holdings in Ferrari N.V. $RACE

Logan Capital Management Inc. trimmed its holdings in Ferrari N.V. (NYSE:RACE) by 45.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,102 shares of the company’s stock after selling 1,747 shares during the period. Logan Capital Management Inc.’s holdings in Ferrari were worth $1,032,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in RACE. GW&K Investment Management LLC lifted its position in shares of Ferrari by 288.9% in the first 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. Brooklyn Investment Group lifted its position in shares of Ferrari by 381.3% in the first 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. GAMMA Investing LLC lifted its position in shares of Ferrari by 41.2% in the second quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock valued at $35,000 after acquiring an additional 21 shares in the last quarter. Centerpoint Advisors LLC purchased a new position in shares of Ferrari in the first quarter valued at about $43,000. Finally, Gordian Capital Singapore Pte Ltd lifted its position in shares of Ferrari by 42.9% in the first quarter. Gordian Capital Singapore Pte Ltd now owns 100 shares of the company’s stock valued at $43,000 after acquiring an additional 30 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Cfra Research cut Ferrari from a “hold” rating to a “moderate sell” rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft raised Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, September 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferrari in a report on Monday, August 4th. UBS Group reduced their target price on Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Finally, Citigroup reduced their target price on Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $505.50.

Ferrari Trading Down 1.3%

RACE opened at $402.12 on Wednesday. The firm has a market cap of $97.46 billion, a P/E ratio of 41.50, a P/E/G ratio of 4.32 and a beta of 1.08. Ferrari N.V. has a 12 month low of $372.31 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 stock has a 50-day moving average of $457.48 and a 200 day moving average of $468.24.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.57 by $0.13. The company 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%.The firm’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $2.29 earnings per share. Ferrari has set its FY 2025 guidance at 9.751- EPS. As a group, research analysts forecast that Ferrari N.V. will post 9.22 EPS for the current 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.