Ferrari (NYSE:RACE) Short Interest Down 20.9% in February

Ferrari (NYSE:RACE) saw a large decrease in short interest in February. As of February 15th, there was short interest totalling 1,250,000 shares, a decrease of 20.9% from the January 31st total of 1,580,000 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average daily volume of 301,700 shares, the short-interest ratio is currently 4.1 days.

Analysts Set New Price Targets

A number of research analysts have issued reports on RACE shares. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a “hold” rating on the stock. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Finally, UBS Group upped their target price on shares of Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $507.14.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RACE. Hanson & Doremus Investment Management acquired a new stake in Ferrari in the fourth quarter valued at approximately $26,000. Planning Capital Management Corp bought a new stake in Ferrari during the third quarter valued at $30,000. Park Square Financial Group LLC bought a new stake in Ferrari during the fourth quarter valued at $32,000. Ashton Thomas Securities LLC acquired a new position in shares of Ferrari during the third quarter valued at $33,000. Finally, Armstrong Advisory Group Inc. boosted its holdings in shares of Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after acquiring an additional 50 shares during the period.

Ferrari Trading Down 1.0 %

Shares of RACE stock traded down $4.43 during trading hours on Tuesday, hitting $459.77. 459,445 shares of the company were exchanged, compared to its average volume of 278,313. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13. The firm has a fifty day moving average of $451.04 and a 200 day moving average of $457.10. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The firm has a market cap of $111.44 billion, a PE ratio of 50.25, a PEG ratio of 4.43 and a beta of 0.95.

Ferrari Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be issued a $3.1265 dividend. This is a positive change from Ferrari’s previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. This represents a yield of 0.5%. Ferrari’s dividend payout ratio (DPR) is presently 5.63%.

Ferrari Company Profile

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.