Ferrari (NYSE:RACE) Stock Price Up 0% – What’s Next?

Ferrari (NYSE:RACE) shares traded up 0% during trading on Monday . The stock traded as high as $436.75 and last traded at $436.45. 131,949 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 286,714 shares. The stock had previously closed at $436.32.

Analyst Ratings Changes

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

Ferrari Stock Performance

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 stock has a fifty day moving average price of $456.03 and a two-hundred day moving average price of $453.77. The company has a market capitalization of $105.32 billion, a price-to-earnings ratio of 47.49, a PEG ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

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

Institutional Investors Weigh In On Ferrari

Several hedge funds have recently modified their holdings of RACE. Sapient Capital LLC lifted its stake in shares of Ferrari by 1.0% during the fourth quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock valued at $28,737,000 after buying an additional 653 shares during the period. Cerity Partners LLC lifted its stake in shares of Ferrari by 14.0% during the 3rd quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock worth $12,653,000 after purchasing an additional 3,308 shares during the period. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Ferrari during the fourth quarter worth $3,371,000. Allworth Financial LP grew its position in shares of Ferrari by 35.1% in the fourth quarter. Allworth Financial LP now owns 327 shares of the company’s stock valued at $141,000 after purchasing an additional 85 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Ferrari by 2.4% in 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 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.