Ferrari (NYSE:RACE) Trading Up 1.4% – Still a Buy?

Ferrari (NYSE:RACE) shares rose 1.4% during trading on Thursday . The company traded as high as $424.26 and last traded at $419.50. Approximately 824,573 shares traded hands during trading, an increase of 180% from the average daily volume of 294,564 shares. The stock had previously closed at $413.73.

Wall Street Analysts Forecast Growth

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

Ferrari Stock Performance

The company has a market cap of $104.21 billion, a PE ratio of 46.99, a P/E/G ratio of 4.43 and a beta of 0.94. 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 stock’s 50-day simple moving average is $456.00 and its 200 day simple moving average is $452.46.

Ferrari Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be given a $3.1265 dividend. 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 presently 5.63%.

Institutional Investors Weigh In On Ferrari

A number of institutional investors have recently added to or reduced their stakes in the business. Hanson & Doremus Investment Management acquired a new stake in shares of Ferrari in the 4th quarter valued at approximately $26,000. Park Square Financial Group LLC purchased a new position in Ferrari in the fourth quarter worth $32,000. Armstrong Advisory Group Inc. raised its position in Ferrari by 100.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after acquiring an additional 50 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in Ferrari in the fourth quarter valued at $45,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Ferrari during the 3rd quarter worth $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.