Ferrari (NYSE:RACE) Hits New 12-Month Low After Analyst Downgrade

Ferrari N.V. (NYSE:RACE)’s stock price hit a new 52-week low during mid-day trading on Wednesday after Hsbc Global Res downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $356.75 and last traded at $358.0220, with a volume of 303012 shares. The stock had previously closed at $360.09.

A number of other analysts have also issued reports on the company. HSBC reissued a “hold” rating on shares of Ferrari in a research report on Tuesday. Sanford C. Bernstein restated an “outperform” rating and issued a $395.00 price target on shares of Ferrari in a research note on Friday. Citigroup lowered their target price on Ferrari from $579.00 to $529.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. Evercore ISI decreased their price objective on Ferrari from $580.00 to $475.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Finally, UBS Group cut their target price on shares of Ferrari from $563.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday. Three research 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 given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $480.67.

Hedge Funds Weigh In On Ferrari

Large investors have recently modified their holdings of the business. AQR Capital Management LLC boosted its stake in shares of Ferrari by 78.9% in the first quarter. AQR Capital Management LLC now owns 3,568 shares of the company’s stock valued at $1,527,000 after buying an additional 1,574 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ferrari by 31.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company’s stock valued at $82,000 after acquiring an additional 46 shares during the period. Woodline Partners LP purchased a new stake in shares of Ferrari during the 1st quarter worth $1,519,000. RMR Wealth Builders acquired a new position in shares of Ferrari during the 2nd quarter worth $213,000. Finally, Sivia Capital Partners LLC increased its holdings in shares of Ferrari by 67.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 913 shares of the company’s stock valued at $448,000 after purchasing an additional 368 shares in the last quarter.

Ferrari Price Performance

The company has a debt-to-equity ratio of 0.76, a current ratio of 4.90 and a quick ratio of 3.78. The company’s 50 day moving average is $384.15 and its 200 day moving average is $435.39. The stock has a market cap of $86.81 billion, a price-to-earnings ratio of 36.18, a PEG ratio of 4.02 and a beta of 1.01.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.35 by $0.15. Ferrari had a return on equity of 44.20% and a net margin of 22.65%.The business 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. Research analysts forecast that Ferrari N.V. will post 9.22 earnings per share for the current fiscal year.

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.