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

Ferrari (NYSE:RACE) has earned an average rating of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $507.14.

Several research firms recently weighed in on RACE. Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock.

Institutional Investors Weigh In On Ferrari

A number of hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Ferrari by 43.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,367 shares of the company’s stock worth $1,430,000 after buying an additional 1,022 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Ferrari during the 4th quarter valued at $18,276,000. Park Square Financial Group LLC acquired a new position in shares of Ferrari during the 4th quarter valued at $32,000. Brucke Financial Inc. acquired a new position in shares of Ferrari during the 4th quarter valued at $502,000. Finally, Jefferies Financial Group Inc. lifted its position in shares of Ferrari by 113.4% during the 4th quarter. Jefferies Financial Group Inc. now owns 6,615 shares of the company’s stock valued at $2,825,000 after acquiring an additional 56,008 shares during the period.

Ferrari Stock Performance

NYSE:RACE opened at $436.10 on Monday. The stock’s 50-day simple moving average is $456.03 and its 200 day simple moving average is $453.77. The firm has a market capitalization of $105.70 billion, a PE ratio of 47.66, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a twelve month low of $399.27 and a twelve month high of $509.13.

Ferrari Increases Dividend

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

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.