Ferrari (NYSE:RACE) Shares Up 0.8% – Should You Buy?

Ferrari (NYSE:RACE) shares traded up 0.8% during trading on Monday . The stock traded as high as $453.50 and last traded at $452.80. 58,389 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 284,158 shares. The stock had previously closed at $449.23.

Wall Street Analyst Weigh In

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

Ferrari Price Performance

The firm has a market capitalization 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 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 fifty day moving average is $455.30 and its two-hundred day moving average is $454.73.

Ferrari Increases Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be paid a $3.1265 dividend. 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 is 5.63%.

Institutional Investors Weigh In On Ferrari

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

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.