Ferrari (NYSE:RACE) Upgraded at StockNews.com

StockNews.com upgraded shares of Ferrari (NYSE:RACE) from a hold rating to a buy rating in a research note published on Wednesday morning.

A number of other research firms have also weighed in on RACE. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a “hold” rating for the company. Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Price Performance

Shares of Ferrari stock opened at $449.42 on Wednesday. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 12 month low of $399.27 and a 12 month high of $509.13. The stock has a 50 day moving average of $454.38 and a 200 day moving average of $455.80. The firm has a market cap of $108.93 billion, a PE ratio of 49.12, a PEG 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 dividend of $3.1265 per share. This represents a yield of 0.5%. This is an increase from Ferrari’s previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. Ferrari’s dividend payout ratio is presently 5.63%.

Institutional Trading of Ferrari

Several institutional investors have recently added to or reduced their stakes in RACE. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Ferrari in the fourth quarter worth approximately $18,276,000. Park Square Financial Group LLC bought a new position in Ferrari in the 4th quarter valued at $32,000. Brucke Financial Inc. purchased a new stake in Ferrari in the fourth quarter worth $502,000. Jefferies Financial Group Inc. lifted its position in shares of Ferrari by 113.4% during the fourth quarter. Jefferies Financial Group Inc. now owns 6,615 shares of the company’s stock worth $2,825,000 after purchasing an additional 56,008 shares during the last quarter. Finally, Tiptree Advisors LLC purchased a new stake in shares of Ferrari during the fourth quarter valued at $4,248,000.

Ferrari Company Profile

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.