Ferrari (NYSE:RACE) Receives $481.60 Average PT from Analysts

Ferrari (NYSE:RACE - Get Free Report) has earned an average rating of "Moderate Buy" from the eight brokerages that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $481.60.

RACE has been the topic of a number of recent research reports. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. StockNews.com upgraded Ferrari from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research note on Thursday, February 6th. They set a "hold" rating for the company. JPMorgan Chase & Co. reduced their price target on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Finally, UBS Group reduced their price target on shares of Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st.

Hedge Funds Weigh In On Ferrari

A number of large investors have recently added to or reduced their stakes in RACE. Shariaportfolio Inc. purchased a new position in shares of Ferrari in the first quarter valued at about $991,000. Flagship Harbor Advisors LLC purchased a new position in Ferrari during the first quarter valued at $204,000. EWA LLC raised its stake in Ferrari by 7.2% during the first quarter. EWA LLC now owns 564 shares of the company's stock valued at $241,000 after buying an additional 38 shares during the last quarter. PFG Investments LLC increased its holdings in shares of Ferrari by 15.0% in the 1st quarter. PFG Investments LLC now owns 4,491 shares of the company's stock worth $1,921,000 after purchasing an additional 587 shares in the last quarter. Finally, Segment Wealth Management LLC bought a new stake in shares of Ferrari in the 1st quarter worth $2,364,000.

Ferrari Trading Up 0.4 %

RACE traded up $1.98 during trading on Friday, reaching $445.75. 67,109 shares of the company's stock were exchanged, compared to its average volume of 468,078. The company's fifty day moving average price is $448.42 and its 200-day moving average price is $447.22. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a fifty-two week low of $391.54 and a fifty-two week high of $509.13. The firm has a market capitalization of $108.04 billion, a PE ratio of 48.72, a P/E/G ratio of 4.43 and a beta of 1.03.

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 $3.1265 dividend. This represents a yield of 0.5%. 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. Ferrari's 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.