Analysts Set Ferrari (NYSE:RACE) Target Price at $481.60

Shares of Ferrari (NYSE:RACE) have been given an average recommendation of “Moderate Buy” by the eight analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $481.60.

Several analysts recently issued reports on RACE shares. JPMorgan Chase & Co. reduced their price target on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. UBS Group dropped their price objective on shares of Ferrari from $584.00 to $520.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research report on Thursday, February 6th. They set a “hold” rating on the stock. Kepler Capital Markets upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Friday, March 28th. Finally, Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, March 28th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Ferrari during the 4th quarter valued at approximately $697,226,000. Price T Rowe Associates Inc. MD grew its stake in shares of Ferrari by 49.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company’s stock worth $763,125,000 after buying an additional 594,547 shares during the last quarter. Barclays PLC increased its holdings in shares of Ferrari by 198.0% during the fourth quarter. Barclays PLC now owns 853,971 shares of the company’s stock worth $362,802,000 after buying an additional 567,407 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Ferrari by 62.1% in the 4th quarter. Marshall Wace LLP now owns 1,358,467 shares of the company’s stock valued at $579,561,000 after acquiring an additional 520,337 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Ferrari by 380.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company’s stock valued at $107,770,000 after acquiring an additional 192,694 shares during the last quarter.

Ferrari Trading Up 2.9 %

Shares of RACE stock opened at $447.27 on Friday. Ferrari has a 12-month low of $391.54 and a 12-month high of $509.13. The company has a market capitalization of $108.41 billion, a PE ratio of 48.88, a price-to-earnings-growth ratio of 4.43 and a beta of 1.03. The firm has a 50 day moving average price of $448.42 and a two-hundred day moving average price of $447.22. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

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 given a dividend of $3.1265 per share. This is an increase from Ferrari’s previous annual dividend of $2.44. This represents a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. Ferrari’s dividend payout ratio is currently 5.63%.

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.