Ferrari (NYSE:RACE) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Ferrari (NYSE:RACE) from a hold rating to a buy rating in a report published on Tuesday morning.

Several other research analysts also recently issued reports on the company. Morgan Stanley reaffirmed an overweight rating and set a $400.00 price target on shares of Ferrari in a research note on Monday, April 22nd. Sanford C. Bernstein lifted their target price on shares of Ferrari from $448.00 to $512.00 and gave the stock an outperform rating in a research report on Thursday, April 18th. Evercore ISI increased their price target on shares of Ferrari from $430.00 to $465.00 and gave the company an outperform rating in a research report on Monday, April 22nd. Bank of America lifted their price objective on Ferrari from $458.00 to $512.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Finally, UBS Group increased their target price on Ferrari from $413.00 to $448.00 and gave the company a buy rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $456.67.

Ferrari Price Performance

Shares of Ferrari stock opened at $416.23 on Tuesday. Ferrari has a 12-month low of $283.20 and a 12-month high of $442.80. The company has a quick ratio of 3.25, a current ratio of 4.18 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average of $420.16 and a two-hundred day moving average of $386.00.

Ferrari Announces Dividend

The firm also recently announced an annual dividend, which was paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd were given a dividend of $2.443 per share. The ex-dividend date was Monday, April 22nd. This represents a yield of 0.62%.

Institutional Investors Weigh In On Ferrari

A number of institutional investors have recently bought and sold shares of RACE. Blue Trust Inc. lifted its stake in shares of Ferrari by 37.0% in the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after purchasing an additional 30 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Ferrari by 0.7% during the first quarter. Sequoia Financial Advisors LLC now owns 4,277 shares of the company’s stock valued at $1,865,000 after buying an additional 30 shares in the last quarter. Lorne Steinberg Wealth Management Inc. grew its stake in Ferrari by 0.3% during the first quarter. Lorne Steinberg Wealth Management Inc. now owns 9,552 shares of the company’s stock worth $4,164,000 after buying an additional 30 shares during the period. Beck Bode LLC increased its position in shares of Ferrari by 1.1% in the first quarter. Beck Bode LLC now owns 2,775 shares of the company’s stock worth $1,210,000 after acquiring an additional 30 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Ferrari by 2.2% in the 1st quarter. Advisors Asset Management Inc. now owns 1,442 shares of the company’s stock valued at $629,000 after acquiring an additional 31 shares during the period.

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.