Ferrari (NYSE:RACE) Upgraded at Barclays

Barclays upgraded shares of Ferrari (NYSE:RACE) from an equal weight rating to an overweight rating in a research report released on Friday morning, Marketbeat Ratings reports.

Other analysts have also issued reports about the company. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. decreased their price target on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Ferrari presently has an average rating of “Moderate Buy” and a consensus target price of $497.86.

Ferrari Price Performance

Shares of RACE stock opened at $429.93 on Friday. Ferrari has a twelve month low of $399.27 and a twelve month high of $509.13. The company has a market capitalization of $104.21 billion, a PE ratio of 46.99, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. 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 firm has a fifty day simple moving average of $456.00 and a 200-day simple moving average of $452.20.

Ferrari Increases Dividend

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

Hedge Funds Weigh In On Ferrari

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fox Run Management L.L.C. acquired a new position in Ferrari during the 4th quarter valued at approximately $853,000. Charles Schwab Investment Management Inc. lifted its stake in Ferrari by 8.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company’s stock valued at $4,307,000 after buying an additional 755 shares during the last quarter. Sapient Capital LLC boosted its holdings 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 acquiring an additional 653 shares during the period. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Ferrari during the fourth quarter worth about $3,371,000. Finally, Allworth Financial LP increased its holdings in shares of Ferrari by 35.1% in the 4th quarter. Allworth Financial LP now owns 327 shares of the company’s stock worth $141,000 after acquiring an additional 85 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.