Ferrari (NYSE:RACE) Trading 1.3% Higher - Should You Buy?

Ferrari (NYSE:RACE - Get Free Report)'s share price traded up 1.3% during mid-day trading on Friday . The stock traded as high as $438.67 and last traded at $432.17. 311,193 shares traded hands during mid-day trading, an increase of 4% from the average session volume of 298,050 shares. The stock had previously closed at $426.82.

Analysts Set New Price Targets

RACE has been the subject of a number of recent analyst reports. Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Friday. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research report on Thursday, February 6th. They set a "hold" rating for the company. StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday. Finally, JPMorgan Chase & Co. cut their price objective on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research report on Thursday. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Ferrari currently has a consensus rating of "Moderate Buy" and a consensus target price of $497.86.

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Ferrari Stock Down 0.2 %

The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The company has a fifty day simple moving average of $456.00 and a two-hundred day simple moving average of $452.20. The firm has a market capitalization of $103.91 billion, a PE ratio of 46.85, a PEG ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be issued a dividend of $3.1265 per share. This represents a yield of 0.5%. This is a boost from Ferrari's previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. Ferrari's dividend payout ratio is presently 5.63%.

Institutional Investors Weigh In On Ferrari

Large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its stake in Ferrari by 43.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,367 shares of the company's stock valued at $1,430,000 after purchasing an additional 1,022 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Ferrari in the 4th quarter worth approximately $18,276,000. Park Square Financial Group LLC bought a new position in shares of Ferrari during the 4th quarter worth approximately $32,000. Brucke Financial Inc. purchased a new stake in Ferrari during the fourth quarter valued at approximately $502,000. Finally, Jefferies Financial Group Inc. boosted its stake in Ferrari by 113.4% in the fourth quarter. Jefferies Financial Group Inc. now owns 6,615 shares of the company's stock valued at $2,825,000 after acquiring an additional 56,008 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.