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

Shares of Ferrari (NYSE:RACE - Get Free Report) have been given a consensus rating of "Moderate Buy" by the seven research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $526.25.

A number of analysts have recently commented on the stock. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a "hold" rating for the company. UBS Group lifted their price target on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. reduced their price target on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Finally, Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th.

Institutional Trading of Ferrari

Several large investors have recently added to or reduced their stakes in the business. Unisphere Establishment bought a new stake in Ferrari during the first quarter valued at approximately $16,003,000. PDT Partners LLC lifted its holdings in Ferrari by 34.3% during the first quarter. PDT Partners LLC now owns 3,640 shares of the company's stock valued at $1,557,000 after purchasing an additional 930 shares in the last quarter. Biglari Sardar lifted its holdings in Ferrari by 14.2% during the first quarter. Biglari Sardar now owns 20,900 shares of the company's stock valued at $8,943,000 after purchasing an additional 2,600 shares in the last quarter. Point72 Italy S.r.l. purchased a new position in Ferrari during the first quarter valued at approximately $1,498,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in Ferrari by 4,608.7% during the first quarter. Cubist Systematic Strategies LLC now owns 28,252 shares of the company's stock valued at $12,089,000 after purchasing an additional 27,652 shares in the last quarter.

Ferrari Stock Down 0.1%

NYSE:RACE traded down $0.58 on Tuesday, reaching $495.07. 236,702 shares of the stock traded hands, compared to its average volume of 330,461. The company has a market capitalization of $119.99 billion, a price-to-earnings ratio of 54.11, a PEG ratio of 4.43 and a beta of 1.13. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a 12 month low of $391.54 and a 12 month high of $509.13. The company's fifty day simple moving average is $444.73 and its 200 day simple moving average is $447.15.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.82 billion. Ferrari had a net margin of 22.81% and a return on equity of 46.69%. Ferrari's revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business earned $1.95 EPS. Equities analysts predict that Ferrari will post 9.22 EPS for the current fiscal year.

Ferrari Increases Dividend

The firm also recently announced an annual dividend, which was paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd were given a dividend of $3.1265 per share. This represents a yield of 0.5%. This is a positive change from Ferrari's previous annual dividend of $2.44. The ex-dividend date was Wednesday, April 23rd. Ferrari's payout ratio is 5.45%.

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.