Ferrari (NYSE:RACE) Upgraded at Kepler Capital Markets

Kepler Capital Markets upgraded shares of Ferrari (NYSE:RACE) from a hold rating to a buy rating in a research note released on Friday, MarketBeat reports.

RACE has been the topic of several other reports. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. dropped their price target on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating on the stock in a research note on Thursday. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Ferrari has a consensus rating of “Moderate Buy” and an average price target of $497.86.

Ferrari Trading Up 0.7 %

Shares of RACE opened at $429.93 on Friday. Ferrari has a 12 month low of $399.27 and a 12 month high of $509.13. The stock’s 50-day moving average is $456.00 and its two-hundred day moving average is $452.46. 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 stock has a market cap of $104.21 billion, a PE ratio of 46.99, a P/E/G ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be paid a $3.1265 dividend. This represents a yield of 0.5%. This is an increase from Ferrari’s previous annual dividend of $2.44. The ex-dividend date of this dividend is Wednesday, April 23rd. Ferrari’s dividend payout ratio (DPR) is 5.63%.

Institutional Trading of Ferrari

Several institutional investors and hedge funds have recently bought and sold shares of RACE. Norges Bank bought a new stake in shares of Ferrari in the 4th quarter valued at approximately $697,226,000. Price T Rowe Associates Inc. MD increased its stake in Ferrari by 49.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company’s stock valued at $763,125,000 after purchasing an additional 594,547 shares during the last quarter. Barclays PLC increased its stake in Ferrari by 198.0% during the fourth quarter. Barclays PLC now owns 853,971 shares of the company’s stock valued at $362,802,000 after purchasing an additional 567,407 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Ferrari by 62.1% during the fourth quarter. Marshall Wace LLP now owns 1,358,467 shares of the company’s stock worth $579,561,000 after purchasing an additional 520,337 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Ferrari by 380.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company’s stock worth $107,770,000 after buying an additional 192,694 shares during the last quarter.

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.