Brokerages Set Ferrari N.V. (NYSE:RACE) PT at $469.06

Ferrari N.V. (NYSE:RACE) has been given an average rating of “Moderate Buy” by the sixteen research firms that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $469.0609.

RACE has been the topic of several recent analyst reports. Zacks Research raised shares of Ferrari from a “strong sell” rating to a “hold” rating in a research note on Monday, February 2nd. Oddo Bhf lowered shares of Ferrari to a “neutral” rating in a research note on Wednesday, December 10th. Jefferies Financial Group raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Royal Bank Of Canada reissued an “outperform” rating on shares of Ferrari in a research note on Wednesday, February 11th. Finally, UBS Group decreased their target price on shares of Ferrari from $555.00 to $483.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st.

Institutional Investors Weigh In On Ferrari

Institutional investors have recently modified their holdings of the stock. Mather Group LLC. acquired a new position in Ferrari in the third quarter worth approximately $27,000. Westside Investment Management Inc. increased its holdings in Ferrari by 100.0% in the third quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock worth $27,000 after buying an additional 28 shares during the last quarter. Root Financial Partners LLC acquired a new position in Ferrari in the third quarter worth approximately $28,000. Fideuram Asset Management Ireland dac acquired a new position in Ferrari in the fourth quarter worth approximately $29,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Ferrari during the 2nd quarter worth $30,000.

Ferrari Price Performance

Shares of NYSE:RACE opened at $334.46 on Friday. The company’s fifty day moving average is $347.14 and its two-hundred day moving average is $379.22. The company has a quick ratio of 4.38, a current ratio of 5.70 and a debt-to-equity ratio of 0.74. Ferrari has a 12-month low of $312.51 and a 12-month high of $519.10. The company has a market cap of $78.25 billion, a P/E ratio of 33.08, a price-to-earnings-growth ratio of 3.21 and a beta of 1.00.

Ferrari Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 21st will be paid a dividend of $3.615 per share. This is an increase from Ferrari’s previous annual dividend of $3.13. The ex-dividend date of this dividend is Tuesday, April 21st. This represents a dividend yield of 99.0%.

About Ferrari

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.