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

Ferrari N.V. (NYSE:RACEGet Free Report) has been given an average rating of “Moderate Buy” by the seventeen ratings firms that are covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $475.6064.

Several equities research analysts recently issued reports on the company. Citigroup upgraded Ferrari from a “sell” rating to a “neutral” rating in a research note on Thursday, February 12th. Barclays set a $420.00 target price on Ferrari and gave the stock an “overweight” rating in a report on Tuesday, December 9th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferrari in a research note on Wednesday, February 11th. Zacks Research upgraded shares of Ferrari from a “strong sell” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, UBS Group decreased their target price on shares of Ferrari from $563.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, January 9th.

Read Our Latest Report on RACE

Ferrari Stock Performance

Shares of NYSE:RACE opened at $350.10 on Monday. The company’s 50 day moving average price is $358.69 and its two-hundred day moving average price is $401.89. Ferrari has a 12-month low of $328.00 and a 12-month high of $519.10. The firm has a market cap of $81.91 billion, a PE ratio of 34.63, a PEG ratio of 3.41 and a beta of 0.97. The company has a quick ratio of 4.38, a current ratio of 5.70 and a debt-to-equity ratio of 0.74.

Ferrari Increases Dividend

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

Key Ferrari News

Here are the key news stories impacting Ferrari this week:

Hedge Funds Weigh In On Ferrari

Several hedge funds and other institutional investors have recently modified their holdings of RACE. Mather Group LLC. acquired a new stake in Ferrari in the third quarter valued at about $27,000. Westside Investment Management Inc. lifted its holdings in shares of Ferrari by 100.0% in the third quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock worth $27,000 after acquiring an additional 28 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of Ferrari in the 3rd quarter valued at approximately $28,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of Ferrari in the 4th quarter valued at approximately $29,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Ferrari during the 2nd quarter valued at approximately $30,000.

About Ferrari

(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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