Ferrari (NYSE:RACE) Stock Price Up 1.2% – Still a Buy?

Shares of Ferrari (NYSE:RACE) traded up 1.2% during trading on Wednesday . The company traded as high as $452.00 and last traded at $451.83. 49,341 shares were traded during trading, a decline of 83% from the average session volume of 284,302 shares. The stock had previously closed at $446.43.

Analyst Ratings Changes

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

Ferrari Price Performance

The stock has a market cap of $109.66 billion, a price-to-earnings ratio of 49.42, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. 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 company’s 50-day moving average is $455.30 and its 200-day moving average is $454.73.

Ferrari Increases Dividend

The business also recently announced 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 a boost from Ferrari’s previous annual dividend of $2.44. This represents a dividend yield of 0.5%. Ferrari’s dividend payout ratio is presently 5.63%.

Hedge Funds Weigh In On Ferrari

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Sapient Capital LLC boosted its stake in shares of Ferrari by 1.0% in the 4th quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock valued at $28,737,000 after purchasing an additional 653 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Ferrari by 14.0% in the 3rd quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock worth $12,653,000 after acquiring an additional 3,308 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Ferrari during the 4th quarter worth approximately $3,371,000. Allworth Financial LP increased its holdings in Ferrari by 35.1% during the 4th quarter. Allworth Financial LP now owns 327 shares of the company’s stock valued at $141,000 after purchasing an additional 85 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Ferrari by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock valued at $684,888,000 after purchasing an additional 38,356 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.