Ferrari N.V. $RACE Shares Bought by Scotia Capital Inc.

Scotia Capital Inc. lifted its stake in shares of Ferrari N.V. (NYSE:RACE) by 5.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,661 shares of the company’s stock after acquiring an additional 238 shares during the period. Scotia Capital Inc.’s holdings in Ferrari were worth $2,287,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in Ferrari by 41.2% during the second quarter. GAMMA Investing LLC now owns 72 shares of the company’s stock worth $35,000 after purchasing an additional 21 shares during the last quarter. Allworth Financial LP grew its stake in shares of Ferrari by 7.5% during the 2nd quarter. Allworth Financial LP now owns 330 shares of the company’s stock valued at $162,000 after buying an additional 23 shares during the period. Inspire Investing LLC grew its stake in shares of Ferrari by 0.7% during the 2nd quarter. Inspire Investing LLC now owns 4,332 shares of the company’s stock valued at $2,126,000 after buying an additional 28 shares during the period. Sound View Wealth Advisors Group LLC increased its holdings in shares of Ferrari by 1.3% during the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 2,227 shares of the company’s stock worth $1,093,000 after buying an additional 29 shares during the last quarter. Finally, Aviso Financial Inc. raised its position in shares of Ferrari by 1.1% in the 1st quarter. Aviso Financial Inc. now owns 2,835 shares of the company’s stock worth $1,213,000 after buying an additional 30 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RACE. Royal Bank Of Canada reissued an “outperform” rating on shares of Ferrari in a research report on Monday, August 4th. Sanford C. Bernstein reduced their price objective on Ferrari from $554.00 to $475.00 and set an “outperform” rating on the stock in a research note on Friday, October 10th. The Goldman Sachs Group raised shares of Ferrari to a “strong-buy” rating in a research report on Monday, November 24th. JPMorgan Chase & Co. cut their price target on shares of Ferrari from $460.00 to $457.00 and set an “overweight” rating on the stock in a report on Wednesday, November 12th. Finally, Citigroup decreased their price objective on shares of Ferrari from $579.00 to $529.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $499.13.

Ferrari Stock Performance

Ferrari stock opened at $390.11 on Monday. The firm has a market capitalization of $94.56 billion, a PE ratio of 39.41, a price-to-earnings-growth ratio of 4.15 and a beta of 1.01. Ferrari N.V. has a one year low of $372.31 and a one year high of $519.10. The stock’s 50 day moving average price is $421.07 and its 200 day moving average price is $458.63. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.78 and a current ratio of 4.90.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.15. Ferrari had a net margin of 22.65% and a return on equity of 44.20%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.94 billion. Ferrari has set its FY 2025 guidance at 10.290- EPS. As a group, sell-side analysts expect 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.