Ferrari (NYSE:RACE) Stock Price 2X’d Since December

Ferrari (NYSE:RACE) Stock Price 2X’d Since December

Ferrari (NYSE:RACE) Stock Price 2X’d Since December


Ferrari (NYSE:RACE) has solid fundamentals and marked an all-time high Wednesday at 118.10/share

Ferrari stock continues to trade in the Green, and ended the last week with a 2.4% gainer, at 116.76. The company’s stock has risen 35.7% QTD, and an impressive 100.8% YTD.

The stock posted an all-time high of 118.09 on 6  September.

People are asking, what is driving the optimism to Ferrari stock (see the chart below)

In Q-2 of Y 2017, Ferrari’s adjusted EPS  stood at 0.86, about 40% higher than its Q-2 Y 2016 EPS.

Ferrari’s Q-2 revenue rose 13.5%, with a 5.4% Y-Y increase in its global shipments.

Similarly, its EBIT  margin improved to 21.9%, compared with 19.3% in Q-2 of Y 2016.

Added to that Ferrari’s V12 engine car sales rose in Q-2 of Y 2017, which boosted profitability.

Overall Ferrari’s V12 engine profit margins are wider than its V8 engine margins. Ferrari has reported strong EPS growth in the last 8 months, which is the Key reason for investors’ positive sentiment.

Ferrari’s profit margins are very much wider than those of mainstream automakers like Ford Motor (NYSE:F), Fiat Chrysler (NYSE:FCAU), and General Motors (NYSE:GM).

Wednesday, Ferrari marked an all- time high at 118.10, attracting new buyers.

An immediate support for Ferrari stock stands at 115.37.

On the Northside, there is no resistance beyond 121.28.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 117.07 Sept-06-2017 0.91 118.09 118.1 116.41 288,639
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Very Bullish (0.56) Bullish (0.44) Very Bullish (0.65) Very Bullish (0.58)

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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