Ferrari (NYSE:RACE) Hits New 1-Year Low – Should You Sell?

Ferrari N.V. (NYSE:RACE) shares hit a new 52-week low on Thursday . The stock traded as low as $322.03 and last traded at $321.1890, with a volume of 18965 shares. The stock had previously closed at $330.47.

Wall Street Analysts Forecast Growth

RACE has been the subject of a number of analyst reports. Oddo Bhf lowered Ferrari to a “neutral” rating in a research report on Wednesday, December 10th. Sanford C. Bernstein restated an “outperform” rating and issued a $410.00 target price on shares of Ferrari in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ferrari in a research report on Monday, December 29th. HSBC reissued a “hold” rating on shares of Ferrari in a research report on Tuesday, January 13th. Finally, Loop Capital set a $481.67 price objective on Ferrari in a research report on Thursday, December 4th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $475.61.

Ferrari Price Performance

The company has a debt-to-equity ratio of 0.74, a current ratio of 5.70 and a quick ratio of 4.38. The company’s 50-day moving average price is $353.20 and its two-hundred day moving average price is $394.90. The company has a market capitalization of $75.21 billion, a P/E ratio of 31.87, a price-to-earnings-growth ratio of 3.28 and a beta of 0.97.

Ferrari Increases Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 21st will be issued a dividend of $3.615 per share. This represents a dividend yield of 99.0%. This is a boost from Ferrari’s previous annual dividend of $3.13. The ex-dividend date is Tuesday, April 21st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RACE. Mather Group LLC. bought a new position in Ferrari in the 3rd quarter worth approximately $27,000. Westside Investment Management Inc. increased its stake in Ferrari by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 56 shares of the company’s stock worth $27,000 after purchasing an additional 28 shares during the period. Root Financial Partners LLC purchased a new stake in shares of Ferrari during the third quarter worth about $28,000. Fideuram Asset Management Ireland dac bought a new position in shares of Ferrari during the fourth quarter valued at approximately $29,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Ferrari in the second quarter worth $30,000.

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.