Ferrari (NYSE:RACE) Trading Down 1.8% – What’s Next?

Ferrari (NYSE:RACE)’s share price was down 1.8% during trading on Thursday . The company traded as low as $444.39 and last traded at $444.98. Approximately 86,196 shares were traded during trading, a decline of 70% from the average daily volume of 284,119 shares. The stock had previously closed at $453.28.

Analyst Upgrades and Downgrades

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

Ferrari Stock Down 1.9 %

The company has a market cap of $107.81 billion, a PE ratio of 48.67, a P/E/G ratio of 4.43 and a beta of 0.94. 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 business’s 50 day moving average is $455.70 and its 200-day moving average is $454.72.

Ferrari Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be given 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 an increase from Ferrari’s previous annual dividend of $2.44. Ferrari’s payout ratio is currently 5.63%.

Institutional Trading of Ferrari

Several institutional investors have recently modified their holdings of the stock. HBK Sorce Advisory LLC lifted its position 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. Elite Wealth Management Inc. lifted its position in shares of Ferrari by 1.0% during the 3rd quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company’s stock worth $1,225,000 after buying an additional 25 shares during the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of Ferrari by 4.4% during the 4th quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock worth $251,000 after buying an additional 25 shares during the last quarter. Garde Capital Inc. raised its position in Ferrari by 5.0% in the 4th quarter. Garde Capital Inc. now owns 525 shares of the company’s stock valued at $223,000 after purchasing an additional 25 shares during the last quarter. Finally, PDS Planning Inc raised its position in Ferrari by 4.8% in the 4th quarter. PDS Planning Inc now owns 589 shares of the company’s stock valued at $250,000 after purchasing an additional 27 shares during the last quarter.

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.