Ferrari (NYSE:RACE) Stock Price Up 1.2% - What's Next?

Ferrari (NYSE:RACE - Get Free Report) shares traded up 1.2% during trading on Wednesday . The stock traded as high as $452.00 and last traded at $451.83. 49,341 shares were traded during trading, a decline of 83% from the average session volume of 284,302 shares. The stock had previously closed at $446.43.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays downgraded 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 report on Wednesday, March 12th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a report on Thursday, February 6th. They set a "hold" rating on the stock. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $507.14.

Ferrari Price Performance

The stock has a fifty day moving average price of $456.03 and a 200-day moving average price of $454.00. The firm has a market capitalization of $105.70 billion, a PE ratio of 47.66, a P/E/G ratio of 4.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57.

Remove Ads

Ferrari Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be given a $3.1265 dividend. This is a boost from Ferrari's previous annual dividend of $2.44. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a dividend yield of 0.5%. Ferrari's dividend payout ratio (DPR) is presently 5.63%.

Institutional Trading of Ferrari

Institutional investors have recently made changes to their positions in the business. Sapient Capital LLC boosted its position in shares of Ferrari by 1.0% in the 4th quarter. Sapient Capital LLC now owns 67,322 shares of the company's stock worth $28,737,000 after purchasing an additional 653 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Ferrari by 14.0% in the 3rd quarter. Cerity Partners LLC now owns 26,915 shares of the company's stock worth $12,653,000 after purchasing an additional 3,308 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Ferrari in the 4th quarter worth $3,371,000. Allworth Financial LP boosted its position in shares of Ferrari by 35.1% in the 4th quarter. Allworth Financial LP now owns 327 shares of the company's stock worth $141,000 after purchasing an additional 85 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Ferrari by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company's stock worth $684,888,000 after purchasing an additional 38,356 shares in the last quarter.

About Ferrari

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.