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

Ferrari N.V. (NYSE:RACE) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $338.90 and last traded at $339.8680, with a volume of 149782 shares changing hands. The stock had previously closed at $345.23.

Analysts Set New Price Targets

Several brokerages have weighed in on RACE. Citigroup reduced their price objective on Ferrari from $579.00 to $529.00 and set a “buy” rating on the stock in a research note on Thursday, October 16th. Oddo Bhf downgraded Ferrari to a “neutral” rating in a research report on Wednesday, December 10th. Loop Capital set a $481.67 price objective on shares of Ferrari in a research report on Thursday, December 4th. BNP Paribas Exane upgraded shares of Ferrari to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $395.00 price target on shares of Ferrari in a report on Friday, January 9th. Three equities 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $480.67.

Ferrari Stock Down 1.2%

The company’s 50-day moving average is $376.14 and its 200 day moving average is $429.72. The stock has a market capitalization of $81.80 billion, a PE ratio of 34.09, a price-to-earnings-growth ratio of 3.68 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 posted its earnings results on Tuesday, November 4th. The company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.94 billion. Ferrari has set its FY 2025 guidance at 10.290- EPS. As a group, analysts anticipate that Ferrari N.V. will post 9.22 EPS for the current year.

Hedge Funds Weigh In On Ferrari

Several institutional investors and hedge funds have recently bought and sold shares of RACE. Callan Family Office LLC boosted its holdings in Ferrari by 58.5% in the 2nd quarter. Callan Family Office LLC now owns 4,378 shares of the company’s stock valued at $2,148,000 after purchasing an additional 1,615 shares in the last quarter. Generali Asset Management SPA SGR increased its holdings in Ferrari by 28.9% in the third quarter. Generali Asset Management SPA SGR now owns 55,690 shares of the company’s stock valued at $27,022,000 after buying an additional 12,485 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Ferrari by 1.1% during the 2nd quarter. TD Asset Management Inc now owns 415,850 shares of the company’s stock valued at $203,677,000 after acquiring an additional 4,434 shares during the period. Rheos Capital Works Inc. boosted its position in Ferrari by 33.1% during the third quarter. Rheos Capital Works Inc. now owns 215,200 shares of the company’s stock worth $104,419,000 after purchasing an additional 53,500 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Ferrari by 26.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,599 shares of the company’s stock valued at $5,205,000 after purchasing an additional 2,220 shares during the last quarter.

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.