Ferrari (NYSE:RACE) Upgraded to “Buy” at Kepler Capital Markets

Kepler Capital Markets upgraded shares of Ferrari (NYSE:RACE) from a hold rating to a buy rating in a report published on Friday morning, MarketBeat Ratings reports.

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

Ferrari Price Performance

Shares of NYSE RACE opened at $429.93 on Friday. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The company’s 50-day moving average price is $456.00 and its 200 day moving average price is $452.46. Ferrari has a 52 week low of $399.27 and a 52 week high of $509.13. The stock has a market cap of $104.21 billion, a price-to-earnings ratio of 46.99, a PEG ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $3.1265 per share. The ex-dividend date is Wednesday, April 23rd. This represents a yield of 0.5%. This is an increase from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio (DPR) is currently 5.63%.

Institutional Trading of Ferrari

Several institutional investors have recently made changes to their positions in the stock. Hanson & Doremus Investment Management acquired a new position in Ferrari in the fourth quarter valued at $26,000. Park Square Financial Group LLC purchased a new position in shares of Ferrari in the 4th quarter worth about $32,000. Armstrong Advisory Group Inc. lifted its stake in shares of Ferrari by 100.0% in 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. Kestra Investment Management LLC purchased a new stake in shares of Ferrari during the 4th quarter worth about $45,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Ferrari during the 3rd quarter worth approximately $47,000.

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.