Ferrari (NYSE:RACE) Stock Price Up 1.7% – Time to Buy?

Ferrari (NYSE:RACE) traded up 1.7% during mid-day trading on Tuesday . The stock traded as high as $435.40 and last traded at $435.29. 122,491 shares were traded during trading, a decline of 72% from the average session volume of 431,119 shares. The stock had previously closed at $427.88.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. UBS Group decreased their price objective on Ferrari from $584.00 to $520.00 and set a “buy” rating for the company in a report on Tuesday. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. Finally, Kepler Capital Markets upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 28th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $490.29.

Ferrari Stock Up 1.8 %

The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The company has a market capitalization of $106.26 billion, a PE ratio of 47.91, a P/E/G ratio of 4.43 and a beta of 0.94. The company’s 50-day moving average is $455.78 and its 200 day moving average is $451.54.

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 given a dividend of $3.1265 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a dividend yield of 0.5%. This is an increase from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio (DPR) is 5.63%.

Institutional Trading of Ferrari

Several institutional investors have recently added to or reduced their stakes in RACE. Vanguard Group Inc. boosted its position in shares of Ferrari by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company’s stock valued at $2,002,581,000 after buying an additional 45,754 shares during the last quarter. Bank of Italy boosted its holdings in shares of Ferrari by 2.8% during the 4th quarter. Bank of Italy now owns 2,339,620 shares of the company’s stock valued at $1,002,392,000 after acquiring an additional 63,675 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Ferrari by 49.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company’s stock worth $763,125,000 after acquiring an additional 594,547 shares during the period. Norges Bank purchased a new position in shares of Ferrari during the fourth quarter valued at approximately $697,226,000. Finally, Bank of New York Mellon Corp lifted its position in Ferrari by 2.4% during the fourth 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 during the period.

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.