Ferrari (NYSE:RACE) Receives $507.14 Consensus Target Price from Analysts

Shares of Ferrari (NYSE:RACE) have been given an average rating of “Moderate Buy” by the ten analysts that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $497.86.

Several analysts recently issued reports on the stock. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Kepler Capital Markets upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. dropped their price objective on Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research note on Thursday. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating on the stock.

Ferrari Stock Up 0.7 %

RACE opened at $429.93 on Monday. The firm has a market cap of $104.21 billion, a P/E 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 quick ratio of 3.55 and a current ratio of 4.57. The business has a 50 day moving average price of $456.00 and a 200 day moving average price of $452.20. Ferrari has a twelve month low of $399.27 and a twelve month high of $509.13.

Ferrari Increases Dividend

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

Institutional Investors Weigh In On Ferrari

Several institutional investors and hedge funds have recently bought and sold shares of RACE. HBK Sorce Advisory LLC boosted its position in shares of Ferrari by 3.6% during the 4th quarter. HBK Sorce Advisory LLC now owns 626 shares of the company’s stock valued at $266,000 after acquiring an additional 22 shares in the last quarter. Elite Wealth Management Inc. boosted its holdings in Ferrari by 1.0% during the third quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock valued at $1,225,000 after purchasing an additional 25 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in shares of Ferrari by 4.4% in the 4th quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock valued at $251,000 after purchasing an additional 25 shares during the period. Garde Capital Inc. raised its holdings in shares of Ferrari by 5.0% in the 4th quarter. Garde Capital Inc. now owns 525 shares of the company’s stock worth $223,000 after buying an additional 25 shares in the last quarter. Finally, PDS Planning Inc lifted its position in shares of Ferrari by 4.8% during the 4th quarter. PDS Planning Inc now owns 589 shares of the company’s stock worth $250,000 after buying an additional 27 shares during the period.

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.