UBS Group Has Lowered Expectations for Ferrari (NYSE:RACE) Stock Price

by · The Cerbat Gem

Ferrari (NYSE:RACE – Free Report) had its target price decreased by UBS Group from $584.00 to $520.00 in a research report report published on Tuesday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other research firms have also weighed in on RACE. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. decreased their target price on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Finally, Kepler Capital Markets raised Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 28th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Ferrari currently has an average rating of “Moderate Buy” and a consensus target price of $490.29.

Check Out Our Latest Stock Report on Ferrari

Ferrari Trading Down 1.6 %

Shares of RACE opened at $431.33 on Tuesday. The stock has a market capitalization of $104.54 billion, a P/E ratio of 47.14, a PEG ratio of 4.43 and a beta of 0.94. Ferrari has a twelve month low of $399.27 and a twelve month high of $509.13. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The firm has a fifty day simple moving average of $455.81 and a two-hundred day simple moving average of $451.40.

Ferrari Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be issued a dividend of $3.1265 per share. 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 payout ratio is 5.63%.

Institutional Trading of Ferrari

A number of hedge funds and other institutional investors have recently modified their holdings of RACE. Hanson & Doremus Investment Management bought a new stake in Ferrari during the fourth quarter worth about $26,000. Park Square Financial Group LLC purchased a new stake in shares of Ferrari in the 4th quarter worth approximately $32,000. Hobbs Group Advisors LLC bought a new position in Ferrari during the 3rd quarter valued at approximately $47,000. Armstrong Advisory Group Inc. raised its stake in Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after buying an additional 50 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new stake in Ferrari in the fourth quarter worth $45,000.

Ferrari Company Profile

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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.

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