Ferrari (NYSE:RACE) Stock Price Up 0% – What’s Next?

Ferrari (NYSE:RACE) shot up 0% during mid-day trading on Monday . The company traded as high as $436.75 and last traded at $436.45. 131,949 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 286,714 shares. The stock had previously closed at $436.32.

Wall Street Analyst Weigh In

Several research analysts have commented on RACE shares. Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Stock Performance

The firm has a market capitalization of $105.19 billion, a PE ratio of 47.43, a P/E/G ratio of 4.43 and a beta of 0.94. The business has a 50-day simple moving average of $456.62 and a 200-day simple moving average of $453.21. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55.

Ferrari Increases Dividend

The business also recently declared 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 is an increase from Ferrari’s previous annual dividend of $2.44. This represents a yield of 0.5%. Ferrari’s dividend payout ratio (DPR) is currently 5.63%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RACE. Fox Run Management L.L.C. purchased a new position in shares of Ferrari during the 4th quarter worth about $853,000. Sapient Capital LLC boosted its position in shares of Ferrari by 1.0% during the fourth quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock valued at $28,737,000 after buying an additional 653 shares during the period. Cerity Partners LLC boosted its position in shares of Ferrari by 14.0% during the third quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock valued at $12,653,000 after buying an additional 3,308 shares during the period. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Ferrari during the fourth quarter valued at approximately $3,371,000. Finally, Allworth Financial LP grew its stake in shares of Ferrari by 35.1% during the fourth quarter. Allworth Financial LP now owns 327 shares of the company’s stock valued at $141,000 after buying an additional 85 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.