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Ferrari N.V. (RACE) designs, engineers, produces, and sells luxury performance sports cars.
The company 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 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. In addition, the company offers non-registered racing cars; and parts, as well as after sales, repair, maintenance, and restoration services for cars.
Further, it licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods; and Ferrari World, a theme park in Abu Dhabi, the United Arab Emirates.
Additionally, the company provides direct or indirect finance, and leasing services for the purchase of cars to retail clients and dealers; and manages race tracks.
As of December 31, 2018, it had a total of 35 retail Ferrari stores, including 17 franchised stores and 18 owned stores. The company also sells its products through a network of 170 authorized dealers operating 188 points of sale worldwide, as well as through its Website, www.store.ferrari.com.
Shares have formed a bullish "cup and handle" and should move higher out of this formation. Higher share prices are expected for this stock. The company reports its quarterly results on Monday November 4th. On August 2nd, the company reported 2nd Quarter June 2019 earnings of $1.09 per share on revenue of $1.1 billion. The consensus earnings estimate was $1.03 per share on revenue of $1.1 billion. Revenue grew 2.3% on a year-over-year basis.
52-Weeks Trading Range: $93.85 to $170.54
Entry Point: $160.00
Stop Loss: $152.00
Target Price: $176.00
RACE closed at $172.10
