Ferrari (NYSE:RACE) Upgraded at Kepler Capital Markets

Kepler Capital Markets upgraded shares of Ferrari (NYSE:RACE - Free Report) from a hold rating to a buy rating in a research report released on Friday morning, MarketBeat reports.

Several other research firms also recently commented on RACE. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday. StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research note on Thursday, February 6th. They set a "hold" rating for the company. Finally, JPMorgan Chase & Co. lowered their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $497.86.

Ferrari Stock Performance

Shares of Ferrari stock traded down $4.16 on Friday, reaching $425.55. 230,276 shares of the stock were exchanged, compared to its average volume of 304,874. Ferrari has a twelve month low of $399.27 and a twelve month high of $509.13. The business has a 50 day moving average price of $456.00 and a two-hundred day moving average price of $452.20. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $103.14 billion, a price-to-earnings ratio of 46.44, a PEG ratio of 4.43 and a beta of 0.94.

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Ferrari Increases Dividend

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

Institutional Investors Weigh In On Ferrari

Large investors have recently modified their holdings of the business. Thrivent Financial for Lutherans grew its holdings in shares of Ferrari by 63.4% in the third quarter. Thrivent Financial for Lutherans now owns 2,709 shares of the company's stock valued at $1,274,000 after purchasing an additional 1,051 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Ferrari by 24.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,384 shares of the company's stock valued at $4,412,000 after purchasing an additional 1,864 shares during the last quarter. Townsquare Capital LLC grew its holdings in shares of Ferrari by 24.8% during the 3rd quarter. Townsquare Capital LLC now owns 5,435 shares of the company's stock worth $2,555,000 after purchasing an additional 1,079 shares during the period. CreativeOne Wealth LLC purchased a new position in Ferrari during the third quarter worth about $1,041,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Ferrari by 1.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,737 shares of the company's stock valued at $39,223,000 after acquiring an additional 988 shares during 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.