Ferrari (NYSE:RACE) Hits New 1-Year High - Should You Buy?

Ferrari (NYSE:RACE - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $509.13 and last traded at $504.95, with a volume of 283646 shares changing hands. The stock had previously closed at $499.22.

Analyst Ratings Changes

Several equities research analysts have commented on RACE shares. Barclays downgraded shares of Ferrari from an "overweight" rating to an "equal weight" rating in a report on Wednesday, February 5th. UBS Group upped their price objective on shares of Ferrari from $478.00 to $513.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a "hold" rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $507.14.

Ferrari Stock Performance

The stock has a market capitalization of $113.21 billion, a PE ratio of 50.76, a P/E/G ratio of 4.43 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The business's fifty day moving average price is $449.85 and its 200-day moving average price is $456.83.

Ferrari Increases Dividend

The business 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 $3.1265 dividend. This represents a dividend yield of 0.5%. This is a boost from Ferrari's previous annual dividend of $2.44. The ex-dividend date of this dividend is Wednesday, April 23rd. Ferrari's dividend payout ratio is 5.63%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RACE. Jennison Associates LLC increased its position in shares of Ferrari by 910.1% in the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company's stock worth $1,368,622,000 after purchasing an additional 2,636,869 shares during the last quarter. Norges Bank bought a new position in shares of Ferrari in the fourth quarter worth approximately $697,226,000. Price T Rowe Associates Inc. MD increased its position in shares of 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 worth $763,125,000 after purchasing an additional 594,547 shares during the last quarter. Barclays PLC increased its position in shares of Ferrari by 198.0% in the fourth quarter. Barclays PLC now owns 853,971 shares of the company's stock worth $362,802,000 after purchasing an additional 567,407 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Ferrari by 62.1% in the fourth quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock worth $579,561,000 after purchasing an additional 520,337 shares during the last quarter.

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.