Ferrari (NYSE:RACE) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Ferrari (NYSE:RACEFree Report) from a hold rating to a buy rating in a report released on Tuesday morning, MarketBeat reports.

Other equities analysts have also issued research reports about the company. Oddo Bhf lowered Ferrari to a “neutral” rating in a research note on Wednesday, December 10th. UBS Group lowered their target price on Ferrari from $563.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, January 9th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferrari in a report on Wednesday, February 11th. Barclays set a $420.00 price target on shares of Ferrari and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. Finally, Citigroup upgraded shares of Ferrari from a “sell” rating to a “neutral” rating in a research report on Thursday, February 12th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $469.06.

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Ferrari Stock Down 0.6%

Shares of RACE opened at $340.30 on Tuesday. The company has a market capitalization of $79.61 billion, a P/E ratio of 33.66, a PEG ratio of 3.34 and a beta of 1.00. 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 business’s 50 day simple moving average is $347.19 and its 200-day simple moving average is $383.53.

Ferrari Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 21st will be given a dividend of $3.615 per share. The ex-dividend date is Tuesday, April 21st. This is an increase from Ferrari’s previous annual dividend of $3.13. This represents a dividend yield of 99.0%.

Hedge Funds Weigh In On Ferrari

Large investors have recently made changes to their positions in the company. J. Derek Lewis & Associates Inc. bought a new position in Ferrari in the fourth quarter valued at about $277,000. Rockefeller Capital Management L.P. raised its holdings in Ferrari by 180.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 42,191 shares of the company’s stock worth $15,593,000 after purchasing an additional 27,159 shares during the last quarter. World Investment Advisors lifted its position in Ferrari by 7.4% during the 4th quarter. World Investment Advisors now owns 2,007 shares of the company’s stock valued at $742,000 after purchasing an additional 139 shares during the period. Nalls Sherbakoff Group LLC acquired a new position in Ferrari during the 4th quarter valued at about $739,000. Finally, SHP Wealth Management bought a new position in shares of Ferrari in the 4th quarter valued at about $326,000.

Ferrari News Roundup

Here are the key news stories impacting Ferrari this week:

Ferrari Company Profile

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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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