Ferrari (NYSE:RACE) Trading Above Its 50-Day MA

Ferrari (NYSE:RACE) Trading Above Its 50-Day MA

Ferrari (NYSE:RACE) Trading Above Its 50-Day MA

$RACE

Ferrari shares outperform

Ferrari (NYSE:RACE) finished Wednesday at 110.95 significantly higher than the 50-Day MA at 99.00 and which is way above the 200-Day MA at 81.32.

The 50-Day MA moved up 11.26%whereas the 200-Day MA is +35.59%. RACE shares saw light trading volume with 376-K/shares changing hands Wednesday.

Overall, volume Wednesday was down 23.08% under the stocks normal daily trade.

Are are a few firms that have also updated their positions, as follows:

Chiron Investment Management, LLC augmented its stake by buying 19,100/shares an increase of 16.0% as of 03/31/2017. Chiron Investment Management, LLC now controls 138,600/shares valued at $10,306,000. The total value of its holdings increased 0.3%.

Susquehanna International Group, LLP cut its position by shedding 5,328/shares a decrease of 12.7%. Susquehanna International Group, LLP controls 36,572/shares with a value of $3,146,000. The value of the position overall is up by 1.0%.

Manufacturers Life Insurance Company reduced its ownership by shedding 302,798/shares a decrease of 94.7% from 03/31/2017 to 06/30/2017. Manufacturers Life Insurance Company, The owns 16,800/shares worth $1,445,000. The total value of its holdings decreased 93.9%.

As of Q-2’s end Raymond James Financial Services Advisors, Inc. had acquired a total of 267/shares growing its stake by 2.6%. The value of the total investment in Ferrari went from $766,000 to $907,000 increasing 18.4% since Q-1 of Y 2017.

On 3 August UBS made no change to the stock rating of “Buy” but moved up the price target to 125.00 from 60.00.

Ferrari announced a dividend for shareholders paid Tuesday, 2 May 2017. The dividend payment was $0.173 per share for the Quarter or $0.69 on an annualized basis. The dividend yield was $0.64. The ex-dividend date was Monday the 24 April 2017.

The most current P/E ratio is 36.61 and market cap is 20.83-B. As of the latest earnings report the EPS was 3.01 and is expected to be 3.08 for the current year with 188,953,000 shares now outstanding. Next Quarter’s EPS is expected be 0.79 with next year’s EPS anticipated to be 3.34.

Ferrari N.V., together with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers seven models, including four sports cars comprising 488 GTB, 488 Spider, F12berlinetta, and special series F12 Tour de France; and three GT cars that include California T, FF, and GTC4Lusso.

It also produces LaFerrari, a Limited Edition supercar, the Aperta, a very Limited Editions series of 200; and 1-off cars; non-registered racing cars; and parts, as well as offers repair, maintenance, and restoration services for cars. In addition, the company licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods; and Ferrari World, a theme park in Abu Dhabi.

As of 31 December 2015, it had a network of 25 franchised stores and 12 owned Ferrari stores, as well as store.ferrari.com website.

The company sells its products through a network of 176 independent dealers operating 198 points of sale across 60 markets worldwide.

Further, it provides direct or indirect finance, and leasing services for the purchase of cars to retail clients and dealers; participates in the F1 racing activities through Scuderia Ferrari, and manages race tracks, as well as holds real estate properties.

The company was founded in Y 1947 and is HQ’d in Maranello, Italy.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 110.95 16 August 2017 0.69 110.52 111.18 110.44 376,200
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bullish (0.35) Neutral (0.21) Bullish (0.42) Bullish (0.42)

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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