Ferrari (NYSE:RACE) Given Average Rating of “Moderate Buy” by Analysts

Shares of Ferrari (NYSE:RACE) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $497.86.

Several equities research analysts have commented on the company. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Kepler Capital Markets upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. lowered their target price on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research note on Thursday.

Institutional Investors Weigh In On Ferrari

A number of hedge funds have recently added to or reduced their stakes in the stock. HBK Sorce Advisory LLC lifted its position in Ferrari by 3.6% in the 4th quarter. HBK Sorce Advisory LLC now owns 626 shares of the company’s stock valued at $266,000 after purchasing an additional 22 shares during the last quarter. Elite Wealth Management Inc. increased its stake in shares of Ferrari by 1.0% in the third quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock valued at $1,225,000 after purchasing an additional 25 shares during the period. Citizens Financial Group Inc. RI raised its holdings in shares of Ferrari by 4.4% during the fourth quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock valued at $251,000 after buying an additional 25 shares during the last quarter. Garde Capital Inc. boosted its position in shares of Ferrari by 5.0% during the fourth quarter. Garde Capital Inc. now owns 525 shares of the company’s stock worth $223,000 after buying an additional 25 shares during the period. Finally, PDS Planning Inc grew its holdings in Ferrari by 4.8% in the 4th quarter. PDS Planning Inc now owns 589 shares of the company’s stock worth $250,000 after buying an additional 27 shares in the last quarter.

Ferrari Trading Up 0.7 %

RACE stock opened at $429.93 on Monday. 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 company has a market cap of $104.21 billion, a price-to-earnings ratio of 46.99, a PEG ratio of 4.43 and a beta of 0.94. The business has a fifty day simple moving average of $456.00 and a 200-day simple moving average of $452.46. Ferrari has a 52 week low of $399.27 and a 52 week high of $509.13.

Ferrari Increases Dividend

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