Ferrari (NYSE:RACE) Sets New 1-Year Low - Should You Sell?

Ferrari (NYSE:RACE - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $395.66 and last traded at $396.24, with a volume of 580104 shares changing hands. The stock had previously closed at $414.85.

Analyst Ratings Changes

Several brokerages have commented on RACE. JPMorgan Chase & Co. dropped their price target on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research report on Thursday, February 6th. They set a "hold" rating on the stock. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Finally, StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $486.67.

Ferrari Stock Up 1.1 %

The business has a fifty day simple moving average of $452.86 and a two-hundred day simple moving average of $448.42. The company has a market capitalization of $103.88 billion, a price-to-earnings ratio of 46.84, a P/E/G ratio of 4.43 and a beta of 1.03. 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. Shareholders of record on Wednesday, April 23rd will be given a $3.1265 dividend. This is an increase from Ferrari's previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. This represents a yield of 0.5%. Ferrari's payout ratio is presently 5.63%.

Institutional Trading of Ferrari

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hanson & Doremus Investment Management bought a new stake in Ferrari during the 4th quarter worth about $26,000. Park Square Financial Group LLC bought a new stake in shares of Ferrari during the fourth quarter valued at approximately $32,000. Armstrong Advisory Group Inc. increased its holdings in shares of Ferrari by 100.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company's stock valued at $42,000 after purchasing an additional 50 shares in the last quarter. Webster Bank N. A. bought a new stake in shares of Ferrari during the first quarter worth $43,000. Finally, Kestra Investment Management LLC acquired a new position in Ferrari during the 4th quarter valued at about $45,000.

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.