Ferrari (NYSE:RACE) Upgraded at Kepler Capital Markets

Kepler Capital Markets upgraded shares of Ferrari (NYSE:RACE) from a hold rating to a buy rating in a report issued on Friday morning, Marketbeat reports.

Several other brokerages have also issued reports on RACE. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a “hold” rating on the stock. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday. Finally, JPMorgan Chase & Co. decreased their price target on Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Ferrari presently has a consensus rating of “Moderate Buy” and a consensus target price of $497.86.

Ferrari Price Performance

RACE stock opened at $429.93 on Friday. Ferrari has a 52-week low of $399.27 and a 52-week high of $509.13. 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 stock has a market cap of $104.21 billion, a price-to-earnings ratio of 46.99, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The business has a fifty day moving average of $456.00 and a two-hundred day moving average of $452.20.

Ferrari Increases Dividend

The firm also recently declared 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. This represents a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a boost from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio (DPR) is currently 5.63%.

Institutional Trading of Ferrari

A number of large investors have recently modified their holdings of RACE. Thrivent Financial for Lutherans raised its position in Ferrari by 63.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,709 shares of the company’s stock valued at $1,274,000 after purchasing an additional 1,051 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Ferrari by 24.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,384 shares of the company’s stock worth $4,412,000 after acquiring an additional 1,864 shares during the last quarter. Townsquare Capital LLC lifted its stake in Ferrari by 24.8% in the third quarter. Townsquare Capital LLC now owns 5,435 shares of the company’s stock worth $2,555,000 after acquiring an additional 1,079 shares during the last quarter. CreativeOne Wealth LLC purchased a new stake in shares of Ferrari in the 3rd quarter valued at approximately $1,041,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Ferrari by 1.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,737 shares of the company’s stock valued at $39,223,000 after purchasing an additional 988 shares during the last quarter.

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.