Ferrari (NYSE:RACE) Stock Price Up 0.8% – Should You Buy?

Ferrari (NYSE:RACEGet Free Report)’s stock price rose 0.8% on Monday . The company traded as high as $453.50 and last traded at $452.80. Approximately 58,389 shares were traded during trading, a decline of 79% from the average daily volume of 284,158 shares. The stock had previously closed at $449.23.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on RACE shares. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research note 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 report on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $507.14.

Get Our Latest Stock Analysis on RACE

Ferrari Stock Up 1.3 %

The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The firm has a market cap of $110.34 billion, a price-to-earnings ratio of 49.74, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The stock’s 50 day moving average is $454.38 and its 200 day moving average is $455.34.

Ferrari Increases Dividend

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

Institutional Investors Weigh In On Ferrari

Institutional investors and hedge funds have recently modified their holdings of the stock. Hanson & Doremus Investment Management acquired a new stake in shares of Ferrari during the fourth quarter worth $26,000. Park Square Financial Group LLC acquired a new stake in Ferrari during the 4th quarter worth about $32,000. Hobbs Group Advisors LLC purchased a new stake in Ferrari during the third quarter valued at about $47,000. Armstrong Advisory Group Inc. increased its position in shares of Ferrari by 100.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after acquiring an additional 50 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in shares of Ferrari during the fourth quarter valued at approximately $45,000.

About Ferrari

(Get Free Report)

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.

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