Is Ferrari N.V. (RACE) a Buy? The Stock Reaches 52-Week High Today

June 16, 2018 - By Kurt Siggers

Ferrari N.V. (NYSE:RACE) Logo

The stock of Ferrari N.V. (NYSE:RACE) hit a new 52-week high and has $154.86 target or 4.00 % above today’s $148.90 share price. The 5 months bullish chart indicates low risk for the $28.09 billion company. The 1-year high was reported on Jun, 16 by Barchart.com. If the $154.86 price target is reached, the company will be worth $1.12 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 0.29% or $0.43 during the last trading session, reaching $148.9. About 368,180 shares traded. Ferrari N.V. (NYSE:RACE) has risen 53.08% since June 16, 2017 and is uptrending. It has outperformed by 40.51% the S&P500.

Analysts await Ferrari N.V. (NYSE:RACE) to report earnings on August, 1. They expect $0.88 earnings per share, up 11.39 % or $0.09 from last year’s $0.79 per share. RACE’s profit will be $166.01 million for 42.30 P/E if the $0.88 EPS becomes a reality. After $0.96 actual earnings per share reported by Ferrari N.V. for the previous quarter, Wall Street now forecasts -8.33 % negative EPS growth.

More notable recent Ferrari N.V. (NYSE:RACE) news were published by: Livetradingnews.com which released: “Ferrari (NYSE:RACE) HeffX-LTN’s Stock of the Year, Bullish Breakout” on June 13, 2018, also Livetradingnews.com with their article: “F1: Ferrari (NYSE:RACE) Back in the Championship Lead” published on June 11, 2018, Livetradingnews.com published: “Ferrari (NYSE:RACE) World Record Priced 250GTO’s New Owner” on June 12, 2018. More interesting news about Ferrari N.V. (NYSE:RACE) were released by: Livetradingnews.com and their article: “Ferrari(NYSE:RACE) Factory Team to Suzuka 10 Hours Race” published on June 08, 2018 as well as Livetradingnews.com‘s news article titled: “F1: Ferrari (NYSE:RACE) Back on the Streets of Monaco” with publication date: May 24, 2018.

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company has market cap of $28.09 billion. The firm offers seven models, including four sports cars that include 488 GTB, 488 Spider, F12berlinetta, and special series F12tfd; and three GT cars, which comprise California T, GTC4Lusso, and GTC4Lusso T. It has a 42.87 P/E ratio. It also provides LaFerrari Aperta, a limited edition supercar; Fuoriserie, a very limited editions series; one-off cars; F60 America, a V12 open air roadster; and Ferrari J50, a two-seater mid-rear-engined roadster.

Ferrari N.V. (NYSE:RACE) Ratings Chart

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