Ferrari shares (NYSE: RACE – Get a rating) received a consensus “buy” recommendation from the eighteen analysts who currently cover the company, MarketBeat.com reports. Two analysts rated the stock with a sell recommendation, three have issued a hold recommendation and ten have issued a buy recommendation on the company. The 1-year average price target among brokers who updated their coverage on the stock in the last year is $242.10.
RACE has been the subject of a number of research analyst reports. BNP Paribas upgraded Ferrari from a “neutral” rating to an “outperforming” rating and set a target price of $255.00 for the stock in a Tuesday, April 12 report. Redburn Partners upgraded Ferrari from a “neutral” rating to a “buy” rating in a Friday, March 11 report. UBS Group raised its price target on Ferrari from $260.00 to $263.00 and gave the stock a “buy” rating in a Monday, April 4 report. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a Wednesday, April 27 research report. To finish, Zacks Investment Research upgraded Ferrari from a “sell” rating to a “hold” rating in a Thursday, May 26 research report.
A number of hedge funds and other institutional investors have recently changed their positions in RACE. Banque Pictet & Cie SA purchased a new equity stake in Ferrari during the 4th quarter for a value of approximately $1,156,000. Alapocas Investment Partners Inc. purchased a new equity stake in Ferrari during Q4 worth approximately $6,942,000. Zurich Insurance Group SA FI increased its stake in Ferrari shares by 39.9% during the 4th quarter. Zurich Insurance Group Ltd FI now owns 39,237 shares in the company worth $10,152,000 after buying an additional 11,185 shares last quarter. Rockefeller Capital Management LP increased its stake in Ferrari shares by 58.4% during the third quarter. Rockefeller Capital Management LP now owns 1,247 shares of the company worth $260,000 after buying 460 more shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Ferrari shares by 25.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,473 shares of the company worth $381,000 after buying 301 additional shares in the last quarter. Hedge funds and other institutional investors own 38.36% of the company’s shares.
NYSE: RACE opened at $197.88 on Friday. The company’s 50-day moving average price is $207.56 and its 200-day moving average price is $227.07. The company has a market capitalization of $36.56 billion, a P/E ratio of 36.44, a PEG ratio of 3.53 and a beta of 0.94. Ferrari has a 52-week low of $178.87 and a 52-week high of $278.78. The company has a quick ratio of 3.24, a current ratio of 3.82 and a leverage ratio of 1.14.
The company also recently disclosed an annual dividend, which was paid on Friday, May 6. Shareholders of record on Wednesday, April 20 received a dividend of $1.362 per share. The ex-dividend date was Tuesday, April 19. This represents a return of 0.66%.
About Ferrari (Get a rating)
Ferrari NV, through its subsidiaries, designs, engineers, produces and sells luxury performance sports cars. The company offers sports, GT and special series cars; limited-edition hypercars; unique and track cars; and Icona cars. It also provides racing cars, spare parts and engines, as well as after-sales, repair, maintenance and restoration services for cars.
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