Ferrari (NYSE:RACE) Rating Increased to Overweight at Barclays

Barclays upgraded shares of Ferrari (NYSE:RACE) from an equal weight rating to an overweight rating in a research note released on Friday, Marketbeat reports.

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

Ferrari Price Performance

Ferrari stock opened at $429.93 on Friday. The stock’s fifty day moving average price is $456.00 and its two-hundred day moving average price is $452.46. The firm has a market cap of $104.21 billion, a PE ratio of 46.99, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. Ferrari has a one year low of $399.27 and a one year high of $509.13.

Ferrari Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its position in 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 acquiring an additional 1,022 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Ferrari during the fourth quarter worth about $18,276,000. Park Square Financial Group LLC acquired a new position in shares of Ferrari in the fourth quarter valued at approximately $32,000. Brucke Financial Inc. bought a new position in Ferrari in the 4th quarter valued at approximately $502,000. Finally, Jefferies Financial Group Inc. boosted its position in Ferrari by 113.4% during the 4th quarter. Jefferies Financial Group Inc. now owns 6,615 shares of the company’s stock worth $2,825,000 after buying an additional 56,008 shares during the period.

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.