Ferrari (NYSE:RACE) Shares Up 1.7% - Time to Buy?

Ferrari (NYSE:RACE - Get Free Report)'s share price was up 1.7% during trading on Tuesday . The stock traded as high as $435.40 and last traded at $435.29. Approximately 122,491 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 431,119 shares. The stock had previously closed at $427.88.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RACE. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research note on Thursday, February 6th. They set a "hold" rating on the stock. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. UBS Group dropped their price objective on shares of Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, StockNews.com upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Ferrari currently has an average rating of "Moderate Buy" and a consensus price target of $498.86.

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Ferrari Trading Up 1.8 %

The firm's fifty day simple moving average is $455.78 and its 200 day simple moving average is $451.54. The stock has a market capitalization of $106.26 billion, a P/E ratio of 47.91, a price-to-earnings-growth 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.

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 dividend of $3.1265 per share. This is an increase from Ferrari's previous annual dividend of $2.44. This represents a yield of 0.5%. The ex-dividend date is Wednesday, April 23rd. Ferrari's payout ratio is currently 5.63%.

Institutional Investors Weigh In On Ferrari

Large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its holdings in shares of Ferrari by 24.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,384 shares of the company's stock worth $4,412,000 after buying an additional 1,864 shares in the last quarter. Verition Fund Management LLC bought a new position in Ferrari in the third quarter valued at about $4,988,000. Benjamin Edwards Inc. acquired a new position in Ferrari during the third quarter worth about $298,000. Centiva Capital LP raised its stake in Ferrari by 199.5% during the third quarter. Centiva Capital LP now owns 1,738 shares of the company's stock worth $817,000 after acquiring an additional 3,484 shares in the last quarter. Finally, Holocene Advisors LP lifted its holdings in shares of Ferrari by 13.8% in the third quarter. Holocene Advisors LP now owns 7,530 shares of the company's stock worth $3,540,000 after acquiring an additional 914 shares during 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.