Ferrari N.V. (NYSE:RACE) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Consensus "Moderate Buy": Sixteen brokerages cover Ferrari with a consensus rating of "Moderate Buy" (5 holds, 8 buys, 3 strong buys) and an average 1‑year price target of $469.06.
• Dividend increase: Ferrari raised its annual dividend to $3.615 (from $3.13), payable May 5 with stockholders of record on April 21 and an ex‑dividend date of April 21.
• Shares opened at $347.50 with a market cap of $81.3 billion and a P/E of 34.37, and analysts have recently adjusted targets—UBS cut its target to $483 while JPMorgan raised its target to $447 and Citigroup upgraded the stock to neutral.

Shares of Ferrari N.V. (NYSE:RACE - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the sixteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $469.0609.

A number of equities analysts have commented on the stock. UBS Group cut their price target on shares of Ferrari from $555.00 to $483.00 and set a "buy" rating for the company in a research note on Wednesday, April 1st. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ferrari in a research note on Wednesday, February 11th. JPMorgan Chase & Co. upped their price objective on shares of Ferrari from $407.00 to $447.00 and gave the company an "overweight" rating in a research note on Tuesday, March 3rd. Citigroup raised shares of Ferrari from a "sell" rating to a "neutral" rating in a research note on Thursday, February 12th. Finally, Zacks Research raised shares of Ferrari from a "strong sell" rating to a "hold" rating in a research note on Monday, February 2nd.

Ferrari Price Performance

RACE stock opened at $347.50 on Tuesday. 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 one year low of $312.51 and a one year high of $519.10. The stock has a market cap of $81.30 billion, a PE ratio of 34.37, a P/E/G ratio of 3.33 and a beta of 1.00. The firm has a 50 day simple moving average of $348.92 and a two-hundred day simple moving average of $367.11.

Ferrari Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 21st will be paid a $3.615 dividend. This is a positive change from Ferrari's previous annual dividend of $3.13. The ex-dividend date of this dividend is Tuesday, April 21st. This represents a dividend yield of 119.0%.

Institutional Investors Weigh In On Ferrari

A number of institutional investors have recently made changes to their positions in the business. Benjamin Edwards Inc. boosted its holdings in shares of Ferrari by 3.7% in the second quarter. Benjamin Edwards Inc. now owns 613 shares of the company's stock worth $299,000 after buying an additional 22 shares during the last quarter. Wealth Alliance LLC boosted its holdings in shares of Ferrari by 2.0% in the third quarter. Wealth Alliance LLC now owns 1,251 shares of the company's stock worth $607,000 after buying an additional 25 shares during the last quarter. Pacific Sun Financial Corp boosted its holdings in shares of Ferrari by 2.5% in the third quarter. Pacific Sun Financial Corp now owns 1,008 shares of the company's stock worth $489,000 after buying an additional 25 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of Ferrari by 1.4% in the second quarter. Evergreen Capital Management LLC now owns 1,928 shares of the company's stock worth $946,000 after buying an additional 26 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Ferrari by 8.0% in the third quarter. Blue Trust Inc. now owns 350 shares of the company's stock worth $170,000 after buying an additional 26 shares during the last quarter.

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.

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