Ferrari (NYSE:RACE) Trading Up 0.9% – Still a Buy?

Ferrari (NYSE:RACE)’s share price rose 0.9% during mid-day trading on Friday . The company traded as high as $453.03 and last traded at $450.67. 169,970 shares were traded during trading, a decline of 39% from the average session volume of 280,024 shares. The stock had previously closed at $446.70.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. StockNews.com cut shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferrari in a research report on Thursday, February 6th. They set a “hold” rating for the company. Finally, Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Stock Up 0.8 %

The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $109.10 billion, a P/E ratio of 49.20, a PEG ratio of 4.43 and a beta of 0.94. The stock has a 50 day moving average price of $452.18 and a 200 day moving average price of $456.88.

Ferrari Increases Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Sapient Capital LLC increased its position in Ferrari by 1.0% in the 4th quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock valued at $28,737,000 after acquiring an additional 653 shares during the period. Cerity Partners LLC increased its holdings in Ferrari by 14.0% in the third quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock valued at $12,653,000 after purchasing an additional 3,308 shares during the period. Allworth Financial LP raised its position in Ferrari by 35.1% during the 4th quarter. Allworth Financial LP now owns 327 shares of the company’s stock worth $141,000 after purchasing an additional 85 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Ferrari by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock worth $684,888,000 after buying an additional 38,356 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Ferrari by 156.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,400 shares of the company’s stock worth $2,731,000 after buying an additional 3,900 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.