Ferrari (NYSE:RACE) Stock Price Up 0.8% – What’s Next?

Shares of Ferrari (NYSE:RACE) were up 0.8% on Monday . The stock traded as high as $453.50 and last traded at $452.80. Approximately 58,389 shares changed hands during trading, a decline of 79% from the average daily volume of 284,158 shares. The stock had previously closed at $449.23.

Analyst Ratings Changes

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

Ferrari Trading Up 1.3 %

The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The firm has a market cap of $110.34 billion, a price-to-earnings ratio of 49.74, a PEG ratio of 4.43 and a beta of 0.94. The business has a fifty day moving average of $454.38 and a two-hundred day moving average of $455.34.

Ferrari Increases Dividend

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

Institutional Trading of Ferrari

Several large investors have recently modified their holdings of RACE. HBK Sorce Advisory LLC raised its stake in Ferrari by 3.6% in the 4th quarter. HBK Sorce Advisory LLC now owns 626 shares of the company’s stock valued at $266,000 after purchasing an additional 22 shares during the last quarter. Elite Wealth Management Inc. raised its position in shares of Ferrari by 1.0% in the third quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock valued at $1,225,000 after buying an additional 25 shares during the last quarter. Citizens Financial Group Inc. RI boosted its position in Ferrari by 4.4% during the fourth quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock worth $251,000 after acquiring an additional 25 shares during the last quarter. Garde Capital Inc. grew its stake in Ferrari by 5.0% in the 4th quarter. Garde Capital Inc. now owns 525 shares of the company’s stock worth $223,000 after acquiring an additional 25 shares during the period. Finally, PDS Planning Inc raised its holdings in Ferrari by 4.8% in the 4th quarter. PDS Planning Inc now owns 589 shares of the company’s stock valued at $250,000 after acquiring an additional 27 shares during the last quarter.

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.