Ferrari (NYSE:RACE) Given Average Rating of “Moderate Buy” by Analysts

Shares of Ferrari (NYSE:RACE) have earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $507.14.

RACE has been the topic of a number of recent research reports. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating on the stock. UBS Group upped their target price on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, February 6th.

Ferrari Stock Performance

Shares of RACE stock opened at $479.66 on Thursday. Ferrari has a 12 month low of $399.27 and a 12 month high of $509.13. The stock has a market capitalization of $116.92 billion, a P/E ratio of 52.42, a PEG 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. The firm’s 50 day moving average is $448.41 and its 200 day moving average is $456.52.

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. This is an increase from Ferrari’s previous annual dividend of $2.44. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a yield of 0.5%. Ferrari’s payout ratio is presently 5.63%.

Institutional Investors Weigh In On Ferrari

Institutional investors have recently made changes to their positions in the business. Capital A Wealth Management LLC bought a new stake in Ferrari in the fourth quarter worth $141,000. Armis Advisers LLC purchased a new stake in Ferrari during the 4th quarter valued at about $308,000. Garde Capital Inc. grew its position in Ferrari by 5.0% during the 4th quarter. Garde Capital Inc. now owns 525 shares of the company’s stock worth $223,000 after acquiring an additional 25 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in Ferrari in the 4th quarter worth approximately $11,333,000. Finally, Sunbelt Securities Inc. lifted its position in Ferrari by 46.4% in the fourth quarter. Sunbelt Securities Inc. now owns 864 shares of the company’s stock valued at $369,000 after purchasing an additional 274 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.