Ferrari (NYSE:RACE) Receives $507.14 Consensus PT from Brokerages

Ferrari (NYSE:RACE) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $507.14.

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a research note on Thursday, February 6th. They set a “hold” rating on the stock. Finally, Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th.

Ferrari Price Performance

RACE stock opened at $413.76 on Monday. Ferrari has a one year low of $399.27 and a one year high of $509.13. The firm has a 50-day moving average of $456.26 and a two-hundred day moving average of $452.94. The firm has a market capitalization of $100.29 billion, a PE ratio of 45.22, a P/E/G ratio of 4.43 and a beta of 0.94. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

Ferrari Increases Dividend

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

Institutional Trading of Ferrari

Hedge funds and other institutional investors have recently modified their holdings of the company. Fox Run Management L.L.C. acquired a new position in Ferrari in the 4th quarter worth about $853,000. Sapient Capital LLC increased its holdings 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 buying an additional 653 shares during the last quarter. Cerity Partners LLC increased its holdings in Ferrari by 14.0% in the third quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock worth $12,653,000 after buying an additional 3,308 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new position in Ferrari during the fourth quarter valued at approximately $3,371,000. Finally, Allworth Financial LP lifted its stake in Ferrari by 35.1% in the fourth quarter. Allworth Financial LP now owns 327 shares of the company’s stock valued at $141,000 after acquiring an additional 85 shares during the last quarter.

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.