Maranello (Italy), 13 May 2019 – Ferrari N.V. (NYSE/MTA: RACE) (“Ferrari” or the “Company”) announces that under the common share buyback program announced on 28 December 2018 (the “Initial Program”), the Company has purchased additional common shares – reported in aggregate form, on daily basis – on the Italian Stock Exchange (MTA) as follows:
Number of common shares purchased
Average price per share
Since the announcement of the buyback program dated 28 December 2018 till 10 May 2019, the total invested consideration has been Euro 70,093,837.60 for No. 646,456 common shares purchased resulting in No. 6,396,038 common shares held in treasury as of 10 May 2019. As of the same date, the Company held 2.49% of the total issued share capital including the common shares and the special voting shares, net of shares assigned under the Company’s equity incentive plan.
A comprehensive overview of the transactions carried out under the buyback program, as well as the details of the above transactions, are available on Ferrari’s corporate website under the Buyback Programs section .
Analysts ratings: According to the latest consensus data compiled by Thomson Reuters, 36% of analysts covering Ferrari gave its stock “buy” recommendations. The remaining 64% of these analysts recommended a “hold,” None of the total 11 analysts polled by Reuters expect its stock to fall and gave it “sell” ratings.
Ferrari is the Aristocrat of the automotive sector.
The iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos.
HeffX-LTN overall technical outlook for RACE is Bullish to Very Bullish, there is light resistance now at 146.56, and strong support at 139.83, all of our Key indicators are Very Bullish in here