JPMorgan Chase & Co. Has Lowered Expectations for Ferrari (NYSE:RACE) Stock Price

Ferrari (NYSE:RACE) had its target price decreased by JPMorgan Chase & Co. from $525.00 to $460.00 in a research report released on Thursday, Marketbeat reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other analysts have also commented on the stock. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a report on Thursday, February 6th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $497.86.

Ferrari Trading Up 0.7 %

NYSE:RACE opened at $429.93 on Thursday. Ferrari has a 52-week low of $399.27 and a 52-week high of $509.13. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The stock has a fifty day simple moving average of $456.00 and a 200-day simple moving average of $452.36. The company has a market capitalization of $104.21 billion, a PE ratio of 46.99, 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. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $3.1265 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a yield of 0.5%. This is an increase from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio (DPR) is currently 5.63%.

Institutional Investors Weigh In On Ferrari

Institutional investors have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. purchased a new stake in shares of Ferrari during the 4th quarter worth about $853,000. Charles Schwab Investment Management Inc. grew its stake in Ferrari by 8.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,139 shares of the company’s stock worth $4,307,000 after buying an additional 755 shares during the period. Sapient Capital LLC increased its position in shares of Ferrari by 1.0% in the fourth quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock worth $28,737,000 after acquiring an additional 653 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Ferrari in the fourth quarter worth $3,371,000. Finally, Allworth Financial LP raised its stake in shares of 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.

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.