Ferrari (NYSE:RACE) Stock Taps at All-time Highs

Ferrari (NYSE:RACE) Stock Taps at All-time Highs

Ferrari (NYSE:RACE) Stock Taps at All-time Highs


Ferrari (NYSE:RACE), the Italian luxury Supercar maker, will report Q-3 Y 2017 earnings on 2 November.

Ferrari was spun-off from auto giant Fiat Chrysler (NYSE:FCAU) in late October 2015 with an oversubscribed IPO (initial public offering).

As of 30 October, Ferrari stock has risen 5.6% MTD Vs 1.6% gainer in S&P.

Throughout Q-3, Ferrari stock traded on a Bullish note and impressed investors with about 30% returns.

In comparison, the S&P 500 Index saw 4% gains during the Quarter.

US automakers such as General Motors (NYSE:GM) and Ford (NYSE:F) also turned positive in Q-3 2017. GM delivered returns of 15.6%, Ford ended the Quarter with 7% gains.

Fiat Chrysler, released strong Q-3 Y 2017 results on 24 October, and FCA stock rose 5.4% to close at 17.45. Fiat Chrysler stock has risen 92.1% so far in Y 2017. FCA’s performance has been far better than its direct peers.

As of 30 October Ferrari has 2X’d in value with stellar returns of about 100% YTD.

Notably, Ferrari stock is trading higher than all analysts’ targets at 108 (consensus), except HeffX-LTN’s at 132/share

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 117.18 30 October 2017 1.59 116.63 117.43 116.4 501,500
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bullish (0.36) Bullish (0.47) Bullish (0.38) Bullish (0.25)

Stay tuned…

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