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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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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