Ferrari (NYSE:RACE) Trading Down 0.6% – Here’s Why

Ferrari (NYSE:RACE)’s stock price fell 0.6% during trading on Tuesday . The stock traded as low as $432.28 and last traded at $433.22. 74,332 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 388,311 shares. The stock had previously closed at $435.83.

Analyst Ratings Changes

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

Ferrari Stock Down 0.9 %

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 company has a market capitalization of $104.64 billion, a PE ratio of 47.22, a PEG ratio of 4.43 and a beta of 0.94. The company’s 50 day moving average is $456.37 and its two-hundred day moving average is $453.47.

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 given a dividend of $3.1265 per share. This is a positive change from Ferrari’s previous annual dividend of $2.44. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a dividend yield of 0.5%. Ferrari’s dividend payout ratio (DPR) is presently 5.63%.

Hedge Funds Weigh In On Ferrari

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hanson & Doremus Investment Management purchased a new stake in Ferrari during the fourth quarter valued at $26,000. Park Square Financial Group LLC bought a new stake in Ferrari in the fourth quarter worth about $32,000. Armstrong Advisory Group Inc. boosted its holdings in Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after acquiring an additional 50 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of Ferrari during the fourth quarter valued at $45,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Ferrari in the 3rd quarter valued at about $47,000.

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.