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

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

Analyst Upgrades and Downgrades

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

Ferrari Stock Down 0.4 %

The firm’s 50-day moving average price is $456.03 and its 200-day moving average price is $453.77. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The company has a market cap of $105.32 billion, a price-to-earnings ratio of 47.49, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RACE. Hanson & Doremus Investment Management purchased a new stake in shares of Ferrari during the 4th quarter valued at about $26,000. Park Square Financial Group LLC acquired a new stake in Ferrari in the fourth quarter valued at approximately $32,000. Armstrong Advisory Group Inc. raised its stake in shares of Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after purchasing an additional 50 shares during the period. Kestra Investment Management LLC acquired a new position in shares of Ferrari during the fourth quarter worth $45,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Ferrari in the third quarter valued at $47,000.

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.