UBS Group Issues Pessimistic Forecast for Ferrari (NYSE:RACE) Stock Price

Ferrari (NYSE:RACE - Free Report) had its price target trimmed by UBS Group from $584.00 to $520.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also commented on the stock. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a report on Thursday, February 6th. They issued a "hold" rating for the company. Kepler Capital Markets raised shares of Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. StockNews.com upgraded Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. reduced their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, Ferrari has a consensus rating of "Moderate Buy" and a consensus price target of $498.86.

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Ferrari Trading Up 1.8 %

RACE stock traded up $7.79 during midday trading on Tuesday, hitting $438.40. The stock had a trading volume of 598,249 shares, compared to its average volume of 308,572. Ferrari has a 12-month low of $399.27 and a 12-month high of $509.13. The company's 50-day moving average price is $455.66 and its 200 day moving average price is $451.63. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The firm has a market cap of $106.26 billion, a PE ratio of 47.91, a price-to-earnings-growth 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 given a dividend of $3.1265 per share. This represents a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a positive change from Ferrari's previous annual dividend of $2.44. Ferrari's dividend payout ratio (DPR) is currently 5.63%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Hanson & Doremus Investment Management purchased a new stake in Ferrari during the 4th quarter valued at about $26,000. Park Square Financial Group LLC purchased a new stake in Ferrari in the fourth quarter worth about $32,000. Hobbs Group Advisors LLC purchased a new position in Ferrari during the third quarter valued at $47,000. Armstrong Advisory Group Inc. increased its stake in Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company's stock valued at $42,000 after purchasing an additional 50 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new position in Ferrari in the 4th quarter worth approximately $45,000.

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.