Ferrari N.V. (NYSE:RACE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Ferrari N.V. (NYSE:RACEGet Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $469.0609.

Several equities analysts have commented on the company. HSBC reissued a “hold” rating on shares of Ferrari in a research report on Tuesday, January 13th. Barclays set a $420.00 target price on shares of Ferrari and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. Jefferies Financial Group upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday. BNP Paribas Exane raised shares of Ferrari to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Ferrari in a research note on Wednesday, February 11th.

Check Out Our Latest Report on RACE

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RACE. Mather Group LLC. bought a new stake in Ferrari in the third quarter worth $27,000. Westside Investment Management Inc. increased its holdings in shares of Ferrari by 100.0% during the third quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock valued at $27,000 after acquiring an additional 28 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of Ferrari during the third quarter valued at $28,000. Fideuram Asset Management Ireland dac purchased a new position in shares of Ferrari in the 4th quarter worth about $29,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Ferrari in the 2nd quarter worth about $30,000.

Ferrari Price Performance

RACE opened at $340.30 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 4.38 and a current ratio of 5.70. Ferrari has a 52-week low of $312.51 and a 52-week high of $519.10. The stock has a market capitalization of $79.61 billion, a PE ratio of 33.66, a price-to-earnings-growth ratio of 3.34 and a beta of 1.00. The stock’s 50 day moving average price is $347.19 and its 200-day moving average price is $383.53.

Ferrari Increases Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 21st will be given a $3.615 dividend. The ex-dividend date of this dividend is Tuesday, April 21st. This represents a dividend yield of 99.0%. This is an increase from Ferrari’s previous annual dividend of $3.13.

Key Ferrari News

Here are the key news stories impacting Ferrari this week:

Ferrari Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Ferrari (NYSE:RACE)

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