Ferrari (NYSE:RACE) Shares Down 2.6% - Should You Sell?

Shares of Ferrari (NYSE:RACE - Get Free Report) traded down 2.6% on Wednesday . The company traded as low as $420.79 and last traded at $422.90. 129,784 shares were traded during trading, a decline of 55% from the average session volume of 287,998 shares. The stock had previously closed at $433.98.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a report on Friday. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a research report on Thursday, February 6th. They set a "hold" rating on the stock. JPMorgan Chase & Co. dropped their target price on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a report on Thursday. Finally, StockNews.com upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Ferrari presently has a consensus rating of "Moderate Buy" and an average price target of $497.86.

Ferrari Trading Down 0.2 %

The business has a 50 day moving average of $455.85 and a 200-day moving average of $451.90. The stock has a market cap of $103.91 billion, a PE ratio of 46.85, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

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Ferrari Increases Dividend

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

Institutional Trading of Ferrari

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RACE. Wealth Enhancement Advisory Services LLC lifted its holdings in Ferrari by 43.6% in the 4th 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 in the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Ferrari during the fourth quarter valued at approximately $18,276,000. Park Square Financial Group LLC acquired a new stake in Ferrari during the fourth quarter worth approximately $32,000. Brucke Financial Inc. purchased a new stake in Ferrari in the 4th quarter worth approximately $502,000. Finally, Jefferies Financial Group Inc. grew its stake in Ferrari by 113.4% in the 4th quarter. Jefferies Financial Group Inc. now owns 6,615 shares of the company's stock worth $2,825,000 after acquiring an additional 56,008 shares during the period.

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.