Ferrari (NYSE:RACE) Receives Consensus Rating of “Moderate Buy” from Analysts

Ferrari (NYSE:RACE) has been given an average rating of “Moderate Buy” by the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $507.14.

A number of research firms recently issued reports on RACE. Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a report on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, UBS Group boosted their target price on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hanson & Doremus Investment Management bought a new stake in Ferrari during the fourth quarter valued at about $26,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Ferrari during the 3rd quarter worth about $29,000. Planning Capital Management Corp acquired a new position in shares of Ferrari during the 3rd quarter worth about $30,000. Park Square Financial Group LLC bought a new stake in Ferrari during the 4th quarter valued at approximately $32,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Ferrari in the 3rd quarter valued at approximately $33,000.

Ferrari Stock Down 0.3 %

RACE stock opened at $458.40 on Thursday. The company has a 50 day moving average of $451.53 and a two-hundred day moving average of $457.11. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a 12-month low of $399.27 and a 12-month high of $509.13. The company has a market cap of $111.10 billion, a price-to-earnings ratio of 50.10, a PEG ratio of 4.43 and a beta of 0.95.

Ferrari Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be paid a $3.1265 dividend. This represents a dividend 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%.

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.