Ferrari (NYSE:RACE) Trading Up 0.5% – Should You Buy?

Ferrari (NYSE:RACE) rose 0.5% during mid-day trading on Tuesday . The stock traded as high as $443.44 and last traded at $439.29. Approximately 112,548 shares changed hands during trading, a decline of 60% from the average daily volume of 281,723 shares. The stock had previously closed at $437.08.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating for the company. StockNews.com downgraded shares of Ferrari from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Finally, Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Ferrari currently has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Stock Performance

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 company’s 50-day moving average is $452.39 and its two-hundred day moving average is $456.45. The stock has a market capitalization of $107.56 billion, a P/E ratio of 48.41, a P/E/G ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

The firm also recently declared 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%. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a boost from Ferrari’s previous annual dividend of $2.44. Ferrari’s payout ratio is 5.63%.

Institutional Trading of Ferrari

Hedge funds have recently added to or reduced their stakes in the business. Park Square Financial Group LLC bought a new stake in shares of Ferrari during the fourth quarter valued at about $32,000. Brucke Financial Inc. bought a new stake in shares of Ferrari during the 4th quarter worth about $502,000. Jefferies Financial Group Inc. lifted its stake in shares of Ferrari by 113.4% in the 4th quarter. Jefferies Financial Group Inc. now owns 6,615 shares of the company’s stock worth $2,825,000 after acquiring an additional 56,008 shares during the period. Tiptree Advisors LLC bought a new position in shares of Ferrari in the fourth quarter valued at approximately $4,248,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Ferrari during the fourth quarter valued at approximately $141,000.

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.