Ferrari (NYSE:RACE) Receives $481.60 Consensus Target Price from Brokerages

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Ferrari (NYSE:RACE – Get Free Report) has earned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $481.60.

A number of research analysts recently commented on the stock. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, March 28th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. Kepler Capital Markets upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Friday, March 28th. Finally, UBS Group lowered their price objective on shares of Ferrari from $584.00 to $520.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st.

View Our Latest Research Report on RACE

Ferrari Stock Up 1.6 %

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Shares of NYSE RACE opened at $439.76 on Friday. Ferrari has a 1 year low of $391.54 and a 1 year high of $509.13. The company has a market capitalization of $106.59 billion, a price-to-earnings ratio of 48.06, a price-to-earnings-growth ratio of 4.43 and a beta of 1.03. 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 business has a 50-day moving average of $450.23 and a two-hundred day moving average of $447.32.

Ferrari Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be issued a $3.1265 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a dividend yield of 0.5%. This is a boost from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio is currently 5.63%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Hanson & Doremus Investment Management acquired a new position in Ferrari during the fourth quarter worth about $26,000. Park Square Financial Group LLC purchased a new stake in Ferrari during the 4th quarter worth about $32,000. Armstrong Advisory Group Inc. raised its stake in 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 during the last quarter. Webster Bank N. A. purchased a new position in Ferrari in the 1st quarter valued at about $43,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Ferrari during the 4th quarter worth about $45,000.

About Ferrari

(Get Free Report

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.