Ferrari N.V. (NYSE:RACE) Receives $475.61 Consensus Price Target from Brokerages

Ferrari N.V. (NYSE:RACE) has been given a consensus rating of “Moderate Buy” by the seventeen ratings firms that are currently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $475.6064.

A number of analysts have commented on RACE shares. Jefferies Financial Group restated a “hold” rating on shares of Ferrari in a research report on Wednesday, February 11th. Loop Capital set a $481.67 target price on shares of Ferrari in a research note on Thursday, December 4th. BNP Paribas Exane raised Ferrari to a “strong-buy” rating in a report on Thursday, December 11th. Sanford C. Bernstein reissued an “outperform” rating and issued a $410.00 target price on shares of Ferrari in a research report on Wednesday, February 11th. Finally, Barclays set a $420.00 price target on shares of Ferrari and gave the company an “overweight” rating in a research report on Tuesday, December 9th.

Hedge Funds Weigh In On Ferrari

Several institutional investors and hedge funds have recently bought and sold shares of RACE. Groupama Asset Managment lifted its position in shares of Ferrari by 5.7% in the third quarter. Groupama Asset Managment now owns 16,990,621 shares of the company’s stock worth $8,244,189,000 after purchasing an additional 916,821 shares in the last quarter. Vanguard Group Inc. increased its stake in Ferrari by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 5,213,450 shares of the company’s stock valued at $1,937,388,000 after buying an additional 58,506 shares during the period. Amundi lifted its position in Ferrari by 11.1% in the 4th quarter. Amundi now owns 3,303,264 shares of the company’s stock worth $1,220,754,000 after buying an additional 330,896 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Ferrari by 63.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,670,762 shares of the company’s stock worth $1,295,907,000 after buying an additional 1,039,234 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of Ferrari by 43.4% during the 4th quarter. Morgan Stanley now owns 2,546,564 shares of the company’s stock valued at $941,109,000 after buying an additional 771,039 shares during the period.

Ferrari Stock Down 1.7%

Shares of Ferrari stock opened at $340.78 on Monday. The company has a market capitalization of $79.73 billion, a P/E ratio of 33.70, a PEG ratio of 3.38 and a beta of 0.97. The company has a debt-to-equity ratio of 0.74, a current ratio of 5.70 and a quick ratio of 4.38. Ferrari has a 1-year low of $328.00 and a 1-year high of $519.10. The business’s fifty day moving average price is $357.02 and its two-hundred day moving average price is $399.75.

Ferrari Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Tuesday, May 5th. Investors of record on Tuesday, April 21st will be paid a $3.615 dividend. The ex-dividend date of this dividend is Tuesday, April 21st. This represents a yield of 99.0%. This is an increase from Ferrari’s previous annual dividend of $3.13.

About Ferrari

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.