Ferrari (NYSE:RACE) Reaches New 12-Month Low – Time to Sell?

Shares of Ferrari N.V. (NYSE:RACE) reached a new 52-week low on Wednesday . The stock traded as low as $332.64 and last traded at $334.6370, with a volume of 342271 shares trading hands. The stock had previously closed at $337.40.

Analysts Set New Price Targets

Several analysts recently commented on RACE shares. Sanford C. Bernstein reiterated an “outperform” rating and issued a $395.00 price target on shares of Ferrari in a research report on Friday, January 9th. Zacks Research lowered shares of Ferrari from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Hsbc Global Res cut shares of Ferrari from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 13th. JPMorgan Chase & Co. lowered their price target on Ferrari from $460.00 to $457.00 and set an “overweight” rating on the stock in a report on Wednesday, November 12th. Finally, Barclays set a $420.00 price target on Ferrari and gave the company an “overweight” rating in a research report on Tuesday, December 9th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Ferrari has an average rating of “Moderate Buy” and a consensus target price of $480.67.

Ferrari Stock Performance

The stock’s 50-day moving average is $367.32 and its 200 day moving average is $422.68. The stock has a market cap of $80.71 billion, a price-to-earnings ratio of 33.64, a P/E/G ratio of 3.68 and a beta of 1.01. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.90 and a quick ratio of 3.78.

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

Institutional Trading of Ferrari

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew 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 buying an additional 21 shares during the period. Benjamin Edwards Inc. boosted its stake in shares of Ferrari by 3.7% during the 2nd quarter. Benjamin Edwards Inc. now owns 613 shares of the company’s stock worth $299,000 after acquiring an additional 22 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Ferrari by 7.5% in the 2nd quarter. Allworth Financial LP now owns 330 shares of the company’s stock worth $162,000 after acquiring an additional 23 shares during the period. Valeo Financial Advisors LLC increased its stake in Ferrari by 2.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,086 shares of the company’s stock valued at $532,000 after purchasing an additional 23 shares in the last quarter. Finally, Certuity LLC raised its holdings in Ferrari by 4.5% during the second quarter. Certuity LLC now owns 582 shares of the company’s stock worth $285,000 after purchasing an additional 25 shares during the last quarter.

Ferrari Company Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.