Manning & Napier Advisors LLC Acquires 5,267 Shares of Ferrari N.V. $RACE

Manning & Napier Advisors LLC raised its holdings in shares of Ferrari N.V. (NYSE:RACE) by 2.0% in the third quarter, Holdings Channel.com reports. The firm owned 273,092 shares of the company’s stock after purchasing an additional 5,267 shares during the period. Ferrari comprises 1.7% of Manning & Napier Advisors LLC’s portfolio, making the stock its 19th largest holding. Manning & Napier Advisors LLC’s holdings in Ferrari were worth $132,510,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of RACE. Exencial Wealth Advisors LLC purchased a new stake in shares of Ferrari in the third quarter worth $568,000. Elite Wealth Management Inc. boosted its stake in Ferrari by 578.4% during the third quarter. Elite Wealth Management Inc. now owns 7,300 shares of the company’s stock valued at $3,542,000 after buying an additional 6,224 shares during the last quarter. First Horizon Corp bought a new position in shares of Ferrari during the 3rd quarter valued at approximately $751,000. Citizens Financial Group Inc. RI lifted its position in Ferrari by 40.1% during the third quarter. Citizens Financial Group Inc. RI now owns 960 shares of the company’s stock valued at $466,000 after purchasing an additional 275 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in Ferrari during the third quarter worth approximately $62,000.

Ferrari Trading Down 4.7%

Shares of RACE stock opened at $359.52 on Wednesday. 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 N.V. has a twelve month low of $356.93 and a twelve month high of $519.10. The company’s 50-day moving average price is $384.15 and its 200-day moving average price is $435.39. The stock has a market cap of $87.14 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 4.02 and a beta of 1.01.

Ferrari (NYSE:RACE) last posted its 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 company had revenue of $2.07 billion for the quarter, compared to analyst estimates 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. As a group, equities analysts predict that Ferrari N.V. will post 9.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup reduced their price target on Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Sanford C. Bernstein restated an “outperform” rating and set a $395.00 price target on shares of Ferrari in a research note on Friday. The Goldman Sachs Group raised shares of Ferrari to a “strong-buy” rating in a report on Monday, November 24th. BNP Paribas raised shares of Ferrari to a “strong-buy” rating in a report on Thursday, December 11th. Finally, UBS Group reduced their price objective on shares of Ferrari from $563.00 to $555.00 and set a “buy” rating for the company in a research report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Ferrari presently has an average rating of “Moderate Buy” and an average price target of $480.67.

About Ferrari

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.