Ferrari (NYSE:RACE) Shares Up 0% – Time to Buy?

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

Wall Street Analyst Weigh In

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

Ferrari Price Performance

The company has a market capitalization of $105.19 billion, a P/E ratio of 47.43, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The firm’s 50-day moving average is $456.62 and its 200-day moving average is $453.21.

Ferrari Increases Dividend

The business also recently announced 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. This is a boost from Ferrari’s previous annual dividend of $2.44. This represents a yield of 0.5%. The ex-dividend date is Wednesday, April 23rd. Ferrari’s dividend payout ratio (DPR) is currently 5.63%.

Institutional Trading of Ferrari

Hedge funds have recently bought and sold shares of the stock. Thrivent Financial for Lutherans grew its stake in shares of Ferrari by 63.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,709 shares of the company’s stock valued at $1,274,000 after acquiring an additional 1,051 shares during the period. Prospera Financial Services Inc bought a new position in shares of Ferrari in the third quarter worth approximately $257,000. Charles Schwab Investment Management Inc. increased its stake in shares of Ferrari by 24.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,384 shares of the company’s stock worth $4,412,000 after purchasing an additional 1,864 shares in the last quarter. Cerity Partners LLC raised its position in shares of Ferrari by 14.0% during the 3rd quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock valued at $12,653,000 after purchasing an additional 3,308 shares during the period. Finally, Brown Brothers Harriman & Co. raised its position in shares of Ferrari by 0.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 7,638 shares of the company’s stock valued at $3,591,000 after purchasing an additional 52 shares during the period.

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.