Ferrari (NYSE:RACE) Trading Up 0.8% – Here’s Why

Ferrari (NYSE:RACE)’s share price rose 0.8% during trading on Monday . The stock traded as high as $453.50 and last traded at $452.80. Approximately 58,389 shares were traded during trading, a decline of 79% from the average daily volume of 284,158 shares. The stock had previously closed at $449.23.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RACE shares. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $507.14.

Ferrari Stock Performance

The firm has a market cap of $108.15 billion, a price-to-earnings ratio of 48.76, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The stock has a 50-day moving average of $455.30 and a 200-day moving average of $454.73. 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 firm also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be issued a $3.1265 dividend. The ex-dividend date is Wednesday, April 23rd. This is an increase from Ferrari’s previous annual dividend of $2.44. This represents a dividend yield of 0.5%. Ferrari’s dividend payout ratio (DPR) is 5.63%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its position in Ferrari by 43.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,367 shares of the company’s stock worth $1,430,000 after buying an additional 1,022 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Ferrari in the fourth quarter valued at about $18,276,000. Park Square Financial Group LLC bought a new stake in Ferrari during the fourth quarter worth about $32,000. Brucke Financial Inc. acquired a new position in Ferrari during the fourth quarter valued at approximately $502,000. Finally, Jefferies Financial Group Inc. grew its stake in Ferrari by 113.4% in the fourth quarter. Jefferies Financial Group Inc. now owns 6,615 shares of the company’s stock valued at $2,825,000 after purchasing an additional 56,008 shares in 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.