Ferrari (NYSE:RACE) Upgraded by Kepler Capital Markets to “Buy” Rating

Kepler Capital Markets upgraded shares of Ferrari (NYSE:RACE) from a hold rating to a buy rating in a research note released on Friday, Marketbeat reports.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reduced their price target on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating for the company. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $497.86.

Ferrari Stock Up 0.7 %

Shares of NYSE:RACE opened at $429.93 on Friday. The firm has a 50 day simple moving average of $456.00 and a 200-day simple moving average of $452.20. Ferrari has a twelve month low of $399.27 and a twelve month high of $509.13. 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 $104.21 billion, a PE ratio of 46.99, a P/E/G 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. Stockholders of record on Wednesday, April 23rd will be paid a dividend of $3.1265 per share. This represents a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a boost from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio is 5.63%.

Hedge Funds Weigh In On Ferrari

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. HBK Sorce Advisory LLC raised its stake in shares of Ferrari by 3.6% during the 4th quarter. HBK Sorce Advisory LLC now owns 626 shares of the company’s stock worth $266,000 after buying an additional 22 shares during the last quarter. Citizens Financial Group Inc. RI raised its position in Ferrari by 4.4% during the fourth quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock worth $251,000 after acquiring an additional 25 shares during the last quarter. Garde Capital Inc. raised its position in Ferrari by 5.0% during the fourth quarter. Garde Capital Inc. now owns 525 shares of the company’s stock worth $223,000 after acquiring an additional 25 shares during the last quarter. PDS Planning Inc lifted its holdings in shares of Ferrari by 4.8% in the fourth quarter. PDS Planning Inc now owns 589 shares of the company’s stock valued at $250,000 after purchasing an additional 27 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Ferrari by 10.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock valued at $140,000 after purchasing an additional 30 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.