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

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

Analyst Ratings Changes

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

Ferrari Stock Down 1.9 %

The business has a fifty day moving average price of $455.70 and a two-hundred day moving average price of $454.72. 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 firm has a market capitalization of $107.81 billion, a price-to-earnings ratio of 48.67, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

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

Institutional Investors Weigh In On Ferrari

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sapient Capital LLC grew its stake in shares of Ferrari by 1.0% during the 4th quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock worth $28,737,000 after purchasing an additional 653 shares during the period. Cerity Partners LLC grew its stake in shares of Ferrari by 14.0% during the 3rd quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock worth $12,653,000 after purchasing an additional 3,308 shares during the period. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Ferrari in the 4th quarter valued at $3,371,000. Allworth Financial LP grew its stake in Ferrari by 35.1% in the 4th quarter. Allworth Financial LP now owns 327 shares of the company’s stock valued at $141,000 after acquiring an additional 85 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Ferrari by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock valued at $684,888,000 after acquiring an additional 38,356 shares during the period.

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.