Ferrari (NYSE:RACE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Ferrari (NYSE:RACE) has been assigned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $507.14.

Several research analysts have weighed in on RACE shares. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, UBS Group upped their price target on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th.

Institutional Trading of Ferrari

Hedge funds have recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Ferrari during the 3rd quarter worth approximately $29,000. Hanson & Doremus Investment Management purchased a new stake in shares of Ferrari during the 4th quarter worth approximately $26,000. Planning Capital Management Corp purchased a new stake in shares of Ferrari during the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC purchased a new stake in Ferrari during the 3rd quarter valued at $33,000. Finally, Park Square Financial Group LLC purchased a new stake in Ferrari during the 4th quarter valued at $32,000.

Ferrari Trading Down 0.2 %

Shares of NYSE:RACE opened at $463.86 on Thursday. The stock has a 50 day moving average of $450.52 and a 200 day moving average of $457.10. The company has a market cap of $112.43 billion, a PE ratio of 50.70, a price-to-earnings-growth ratio of 4.43 and a beta of 0.95. 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 has a 12-month low of $399.27 and a 12-month high of $509.13.

Ferrari Increases Dividend

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

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.