Ferrari (NYSE:RACE) Sees Unusually-High Trading Volume - Still a Buy?

Ferrari (NYSE:RACE - Get Free Report) shares saw an uptick in trading volume on Thursday . 509,197 shares were traded during trading, an increase of 46% from the previous session's volume of 348,276 shares.The stock last traded at $462.99 and had previously closed at $480.00.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Barclays lowered shares of Ferrari from an "overweight" rating to an "equal weight" rating in a report on Wednesday, February 5th. StockNews.com upgraded Ferrari from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. UBS Group increased their price target on Ferrari from $478.00 to $513.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a report on Thursday, February 6th. They issued a "hold" rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $507.14.

Ferrari Trading Down 0.2 %

The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $112.43 billion, a price-to-earnings ratio of 50.70, a PEG ratio of 4.43 and a beta of 0.95. The firm has a 50-day moving average of $450.52 and a 200 day moving average of $457.10.

Ferrari Increases Dividend

The firm also recently declared 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%. 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 dividend payout ratio (DPR) is 5.63%.

Institutional Investors Weigh In On Ferrari

Institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of Ferrari by 11.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,345 shares of the company's stock worth $1,102,000 after buying an additional 241 shares in the last quarter. US Bancorp DE increased its stake in shares of Ferrari by 1.7% during the third quarter. US Bancorp DE now owns 16,483 shares of the company's stock valued at $7,750,000 after acquiring an additional 282 shares during the period. Farther Finance Advisors LLC raised its holdings in Ferrari by 83.4% during the third quarter. Farther Finance Advisors LLC now owns 728 shares of the company's stock worth $342,000 after purchasing an additional 331 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Ferrari by 4.1% in the third quarter. Janney Montgomery Scott LLC now owns 69,257 shares of the company's stock worth $32,559,000 after purchasing an additional 2,722 shares during the period. Finally, QRG Capital Management Inc. acquired a new stake in Ferrari in the third quarter worth approximately $267,000.

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.