Ferrari (NYSE:RACE) Sets New 12-Month Low – Time to Sell?

Shares of Ferrari (NYSE:RACE) reached a new 52-week low during trading on Monday . The company traded as low as $395.66 and last traded at $396.24, with a volume of 580104 shares. The stock had previously closed at $414.85.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RACE. UBS Group reduced their price objective on shares of Ferrari from $584.00 to $520.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Kepler Capital Markets upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Friday, March 28th. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research report on Thursday, February 6th. They set a “hold” rating for the company. Finally, StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Ferrari has a consensus rating of “Moderate Buy” and an average price target of $490.29.

Ferrari Trading Up 8.7 %

The company has a 50 day moving average of $453.58 and a two-hundred day moving average of $449.10. 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 stock has a market capitalization of $104.86 billion, a PE ratio of 47.28, a P/E/G ratio of 4.43 and a beta of 1.03.

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 given a $3.1265 dividend. The ex-dividend date 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 is currently 5.63%.

Institutional Trading of Ferrari

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Ferrari by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company’s stock valued at $2,002,581,000 after acquiring an additional 45,754 shares during the period. Bank of Italy increased its holdings in Ferrari by 2.8% in the 4th quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock worth $1,002,392,000 after acquiring an additional 63,675 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Ferrari by 49.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company’s stock worth $763,125,000 after acquiring an additional 594,547 shares during the period. Norges Bank acquired a new stake in Ferrari in the 4th quarter worth about $697,226,000. Finally, Bank of New York Mellon Corp raised its stake in Ferrari by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock valued at $684,888,000 after purchasing an additional 38,356 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.