Ferrari (NYSE:RACE) Trading Up 1.7% – Should You Buy?

Shares of Ferrari (NYSE:RACE) were up 1.7% during mid-day trading on Tuesday . The company traded as high as $435.40 and last traded at $435.29. Approximately 122,491 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 431,119 shares. The stock had previously closed at $427.88.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. UBS Group dropped their target price on shares of Ferrari from $584.00 to $520.00 and set a “buy” rating for the company in a research report on Tuesday. Kepler Capital Markets raised Ferrari from a “hold” rating to a “buy” rating in a research note on Friday. JPMorgan Chase & Co. decreased their target price on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $498.86.

Ferrari Price Performance

The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The company’s 50-day moving average price is $455.85 and its 200-day moving average price is $451.90. The company has a market cap of $104.59 billion, a P/E ratio of 47.12, a P/E/G ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be issued a dividend of $3.1265 per share. 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 is 5.63%.

Institutional Trading of Ferrari

A number of institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its position in Ferrari by 43.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,367 shares of the company’s stock valued at $1,430,000 after buying an additional 1,022 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Ferrari during the 4th quarter worth approximately $18,276,000. Park Square Financial Group LLC bought a new position in shares of Ferrari during the 4th quarter worth approximately $32,000. Brucke Financial Inc. acquired a new stake in shares of Ferrari in the fourth quarter valued at approximately $502,000. Finally, Jefferies Financial Group Inc. lifted its position in shares of Ferrari by 113.4% in the fourth quarter. Jefferies Financial Group Inc. now owns 6,615 shares of the company’s stock worth $2,825,000 after purchasing an additional 56,008 shares in 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.