Ferrari (NYSE:RACE) Stock Price Up 1.3% – Time to Buy?

Ferrari (NYSE:RACE) traded up 1.3% on Friday . The company traded as high as $438.67 and last traded at $432.17. 311,193 shares traded hands during trading, an increase of 4% from the average session volume of 298,050 shares. The stock had previously closed at $426.82.

Wall Street Analysts Forecast Growth

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

Ferrari Stock Up 0.7 %

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 stock has a market capitalization of $104.19 billion, a PE ratio of 46.98, a PEG ratio of 4.43 and a beta of 0.94. The company has a 50 day moving average price of $456.12 and a 200-day moving average price of $452.75.

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

Hedge Funds Weigh In On Ferrari

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in Ferrari during the 4th quarter valued at approximately $697,226,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Ferrari by 49.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company’s stock valued at $763,125,000 after purchasing an additional 594,547 shares during the period. Barclays PLC boosted its position in shares of Ferrari by 198.0% during the fourth quarter. Barclays PLC now owns 853,971 shares of the company’s stock valued at $362,802,000 after purchasing an additional 567,407 shares in the last quarter. Marshall Wace LLP grew its stake in Ferrari by 62.1% in the fourth quarter. Marshall Wace LLP now owns 1,358,467 shares of the company’s stock worth $579,561,000 after purchasing an additional 520,337 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich raised its holdings in Ferrari by 380.7% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company’s stock worth $107,770,000 after purchasing an additional 192,694 shares in the last quarter.

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.