Ferrari (NYSE:RACE) Trading Down 1.6% – What’s Next?

Ferrari (NYSE:RACE) shares fell 1.6% on Monday . The company traded as low as $442.65 and last traded at $442.33. 107,917 shares changed hands during trading, a decline of 62% from the average session volume of 280,831 shares. The stock had previously closed at $449.56.

Analysts Set New Price Targets

Several research analysts recently weighed in on RACE shares. Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research report on Thursday, February 6th. They set a “hold” rating for the company. Finally, StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Stock Down 2.7 %

The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The firm has a market capitalization of $105.99 billion, a PE ratio of 47.79, a PEG ratio of 4.43 and a beta of 0.94. The company has a fifty day moving average price of $452.18 and a 200-day moving average price of $456.73.

Ferrari Increases Dividend

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

Institutional Trading of Ferrari

Several hedge funds have recently made changes to their positions in the business. Sapient Capital LLC increased its stake in Ferrari by 1.0% during the fourth quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock worth $28,737,000 after acquiring an additional 653 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Ferrari by 14.0% in the 3rd quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock worth $12,653,000 after purchasing an additional 3,308 shares during the period. Allworth Financial LP increased its position in shares of Ferrari by 35.1% during the 4th quarter. Allworth Financial LP now owns 327 shares of the company’s stock valued at $141,000 after purchasing an additional 85 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Ferrari by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock worth $684,888,000 after buying an additional 38,356 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Ferrari by 156.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,400 shares of the company’s stock valued at $2,731,000 after acquiring an additional 3,900 shares during the last quarter.

About Ferrari

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.