Ferrari (NYSE:RACE) Reaches New 1-Year Low – Here’s What Happened

Shares of Ferrari N.V. (NYSE:RACE) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $360.64 and last traded at $359.7280, with a volume of 176718 shares. The stock had previously closed at $375.35.

Wall Street Analyst Weigh In

Several analysts recently commented on RACE shares. Loop Capital set a $481.67 price objective on Ferrari in a report on Thursday, December 4th. The Goldman Sachs Group upgraded Ferrari to a “strong-buy” rating in a research note on Monday, November 24th. Oddo Bhf lowered shares of Ferrari to a “neutral” rating in a research report on Wednesday. Zacks Research downgraded shares of Ferrari from a “strong-buy” rating to a “hold” rating in a report on Friday, August 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, September 2nd. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $489.47.

Ferrari Trading Down 4.6%

The stock has a 50 day moving average of $408.14 and a 200-day moving average of $453.42. The company has a market capitalization of $86.77 billion, a P/E ratio of 36.14, a P/E/G ratio of 4.20 and a beta of 1.01. The company has a current ratio of 4.90, a quick ratio of 3.78 and a debt-to-equity ratio of 0.76.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.15. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.94 billion. Ferrari had a net margin of 22.65% and a return on equity of 44.20%. Ferrari has set its FY 2025 guidance at 10.290- EPS. On average, research analysts predict that Ferrari N.V. will post 9.22 EPS for the current year.

Institutional Investors Weigh In On Ferrari

A number of institutional investors have recently bought and sold shares of the business. Callan Family Office LLC raised its holdings in shares of Ferrari by 58.5% in the second quarter. Callan Family Office LLC now owns 4,378 shares of the company’s stock worth $2,148,000 after buying an additional 1,615 shares during the period. TD Asset Management Inc increased its stake in Ferrari by 1.1% in the second quarter. TD Asset Management Inc now owns 415,850 shares of the company’s stock worth $203,677,000 after purchasing an additional 4,434 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in shares of Ferrari by 26.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,599 shares of the company’s stock worth $5,205,000 after purchasing an additional 2,220 shares during the last quarter. Rheos Capital Works Inc. boosted its stake in shares of Ferrari by 14.1% during the second quarter. Rheos Capital Works Inc. now owns 161,700 shares of the company’s stock valued at $79,353,000 after purchasing an additional 20,000 shares during the period. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Ferrari during the second quarter valued at $640,000.

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.