Ferrari (NYSE:RACE) Stock Price Down 1% – Time to Sell?

Ferrari (NYSE:RACE) shares were down 1% during trading on Thursday . The company traded as low as $434.30 and last traded at $434.30. Approximately 263,525 shares changed hands during trading, a decline of 15% from the average daily volume of 308,565 shares. The stock had previously closed at $438.54.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a report on Thursday, February 6th. They issued a “hold” rating for the company. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. lowered their price objective on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Barclays raised shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. Finally, Kepler Capital Markets upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Friday, March 28th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ferrari presently has an average rating of “Moderate Buy” and an average price target of $490.29.

Ferrari Price Performance

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 stock has a fifty day moving average of $455.78 and a two-hundred day moving average of $451.54. The stock has a market cap of $104.54 billion, a price-to-earnings ratio of 47.14, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

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

Institutional Trading of Ferrari

Institutional investors have recently bought and sold shares of the company. Hanson & Doremus Investment Management acquired a new stake in Ferrari in the 4th quarter valued at about $26,000. Park Square Financial Group LLC purchased a new stake in Ferrari in the 4th quarter valued at approximately $32,000. Hobbs Group Advisors LLC acquired a new stake in Ferrari during the 3rd quarter valued at $47,000. Armstrong Advisory Group Inc. increased its position in Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after buying an additional 50 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new position in shares of Ferrari in the fourth quarter worth $45,000.

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.