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

Shares of Ferrari (NYSE:RACE) have received an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $481.60.

A number of analysts have commented on RACE shares. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, March 28th. UBS Group decreased their target price on shares of Ferrari from $584.00 to $520.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. JPMorgan Chase & Co. lowered their target price on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research note on Thursday, February 6th. They set a “hold” rating for the company. Finally, Kepler Capital Markets raised Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 28th.

Institutional Trading of Ferrari

A number of hedge funds have recently bought and sold shares of RACE. Fox Run Management L.L.C. purchased a new stake in shares of Ferrari during the 4th quarter valued at $853,000. Charles Schwab Investment Management Inc. increased its holdings in Ferrari by 8.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company’s stock worth $4,307,000 after buying an additional 755 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Ferrari by 2.6% during the fourth quarter. Russell Investments Group Ltd. now owns 128,482 shares of the company’s stock worth $54,847,000 after buying an additional 3,277 shares during the last quarter. Sapient Capital LLC raised its position in Ferrari by 1.0% in 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 period. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new position in Ferrari in the fourth quarter valued at about $3,371,000.

Ferrari Trading Up 1.6 %

Shares of Ferrari stock opened at $439.76 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a 52 week low of $391.54 and a 52 week high of $509.13. The stock has a 50 day moving average price of $450.94 and a two-hundred day moving average price of $447.51. The stock has a market capitalization of $106.59 billion, a PE ratio of 48.06, a price-to-earnings-growth ratio of 4.43 and a beta of 1.03.

Ferrari Increases Dividend

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