Ferrari (NYSE:RACE) Stock Price Down 1.4% – Time to Sell?

Shares of Ferrari (NYSE:RACE) fell 1.4% on Thursday . The stock traded as low as $439.51 and last traded at $443.93. 87,775 shares were traded during trading, a decline of 69% from the average session volume of 282,507 shares. The stock had previously closed at $450.35.

Analyst Upgrades and Downgrades

RACE has been the topic of a number of research analyst reports. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Trading Down 2.0 %

The firm has a market cap of $107.02 billion, a price-to-earnings ratio of 48.25, a P/E/G ratio of 4.43 and a beta of 0.94. 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 company’s 50 day simple moving average is $453.26 and its 200 day simple moving average is $456.12.

Ferrari Increases Dividend

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

Hedge Funds Weigh In On Ferrari

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC lifted its stake in Ferrari by 910.1% in the third quarter. Jennison Associates LLC now owns 2,926,616 shares of the company’s stock worth $1,368,622,000 after acquiring an additional 2,636,869 shares during the last quarter. Norges Bank purchased a new stake in shares of Ferrari during the 4th quarter worth $697,226,000. Price T Rowe Associates Inc. MD grew its stake in shares of 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 worth $763,125,000 after purchasing an additional 594,547 shares in the last quarter. Barclays PLC increased its holdings in Ferrari by 198.0% in the fourth quarter. Barclays PLC now owns 853,971 shares of the company’s stock valued at $362,802,000 after buying an additional 567,407 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in Ferrari by 62.1% in the fourth quarter. Marshall Wace LLP now owns 1,358,467 shares of the company’s stock valued at $579,561,000 after buying an additional 520,337 shares during the last quarter.

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.