Ferrari (NYSE:RACE) Trading Up 0% - What's Next?

Ferrari (NYSE:RACE - Get Free Report)'s stock price shot up 0% during mid-day trading on Monday . The stock traded as high as $436.75 and last traded at $436.45. 131,949 shares traded hands during trading, a decline of 54% from the average session volume of 286,714 shares. The stock had previously closed at $436.32.

Analysts Set New Price Targets

Several analysts recently issued reports on RACE shares. Barclays downgraded Ferrari from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price objective on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research report on Thursday, February 6th. They set a "hold" rating for the company. Finally, StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $497.86.

Ferrari Stock Performance

The firm has a market capitalization of $102.38 billion, a P/E ratio of 46.16, a P/E/G ratio of 4.43 and a beta of 0.94. The firm has a 50-day moving average price of $456.26 and a two-hundred day moving average price of $452.94. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55.

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Ferrari Increases Dividend

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

Hedge Funds Weigh In On Ferrari

Large investors have recently bought and sold shares of the business. Fox Run Management L.L.C. purchased a new stake in shares of Ferrari in the fourth quarter valued at approximately $853,000. Sapient Capital LLC grew its stake in Ferrari by 1.0% in the 4th quarter. Sapient Capital LLC now owns 67,322 shares of the company's stock valued at $28,737,000 after acquiring an additional 653 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Ferrari by 8.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company's stock worth $4,307,000 after acquiring an additional 755 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Ferrari in the 4th quarter worth $3,371,000. Finally, Allworth Financial LP lifted its holdings in Ferrari by 35.1% during the fourth quarter. Allworth Financial LP now owns 327 shares of the company's stock valued at $141,000 after purchasing an additional 85 shares in 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.