Ferrari (NYSE:RACE) Receives $413.86 Consensus Target Price from Analysts

Ferrari (NYSE:RACE) has been assigned an average recommendation of “Hold” from the ten brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $439.50.

A number of analysts have recently issued reports on RACE shares. Evercore ISI increased their target price on Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Bank of America lifted their target price on Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. UBS Group increased their price target on shares of Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Barclays downgraded shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Thursday, April 4th. Finally, Sanford C. Bernstein increased their target price on shares of Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th.

Ferrari Stock Up 0.2 %

Shares of NYSE:RACE opened at $407.21 on Friday. The firm has a 50 day simple moving average of $421.57 and a 200 day simple moving average of $377.69. Ferrari has a 52 week low of $283.20 and a 52 week high of $442.80. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.98 and a current ratio of 3.91. The company has a market cap of $75.23 billion, a PE ratio of 54.66, a price-to-earnings-growth ratio of 3.29 and a beta of 0.98.

Ferrari Announces Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd were issued a $2.443 dividend. This represents a yield of 0.62%. The ex-dividend date of this dividend was Monday, April 22nd. Ferrari’s dividend payout ratio is presently 6.91%.

Hedge Funds Weigh In On Ferrari

Several institutional investors have recently bought and sold shares of RACE. IAG Wealth Partners LLC acquired a new position in shares of Ferrari during the 1st quarter valued at about $33,000. Register Financial Advisors LLC bought a new position in shares of Ferrari in the first quarter valued at approximately $33,000. Jamison Private Wealth Management Inc. acquired a new stake in shares of Ferrari in the fourth quarter worth $27,000. Pittenger & Anderson Inc. boosted its holdings in shares of Ferrari by 168.6% during the 1st quarter. Pittenger & Anderson Inc. now owns 94 shares of the company’s stock worth $41,000 after buying an additional 59 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC grew its stake in Ferrari by 320.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock valued at $35,000 after buying an additional 80 shares during the last quarter.

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.