Brokerages Set Ferrari (NYSE:RACE) PT at $507.14

Shares of Ferrari (NYSE:RACE - Get Free Report) have earned a consensus rating of "Moderate Buy" from the ten research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $507.14.

A number of equities analysts recently issued reports on RACE shares. UBS Group lifted their target price on Ferrari from $478.00 to $513.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a research note on Thursday, February 6th. They set a "hold" rating for the company. Finally, Barclays downgraded shares of Ferrari from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, February 5th.

Ferrari Price Performance

Shares of Ferrari stock traded up $3.97 on Thursday, hitting $464.47. The company had a trading volume of 572,775 shares, compared to its average volume of 372,951. Ferrari has a 52 week low of $399.27 and a 52 week high of $509.13. The company has a market cap of $113.21 billion, a PE ratio of 50.76, a PEG ratio of 4.43 and a beta of 0.95. The business has a 50-day simple moving average of $449.85 and a 200-day simple moving average of $457.01. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55.

Ferrari Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Ferrari by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company's stock valued at $2,002,581,000 after purchasing an additional 45,754 shares during the period. Jennison Associates LLC raised its stake in shares of Ferrari by 910.1% during the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company's stock worth $1,368,622,000 after buying an additional 2,636,869 shares during the last quarter. Bank of Italy boosted its stake in Ferrari by 2.8% in the fourth quarter. Bank of Italy now owns 2,339,620 shares of the company's stock valued at $1,002,392,000 after acquiring an additional 63,675 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Ferrari by 49.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock valued at $763,125,000 after acquiring an additional 594,547 shares during the last quarter. Finally, Norges Bank acquired a new stake in Ferrari during the 4th quarter worth $697,226,000.

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.