#Ferrari #stock #buyback #program
“To find a multi-bagger stock, I look for a trend of growing return on capital employed (ROCE) and an expanding base of capital employed. When I see this, it means it is a company with a great business model and lots of profitable reinvestment opportunities. So when I look at the ROCE trend of Ferrari I like what I see” –Paul Ebeling.
Maranello Italy, October 25, 2021 – Ferrari (NYSE:RACE) informs that the Company has purchased, under the 5th tranche of the common share buyback program announced on October 4, 2021 (“Fifth Tranche”), additional common shares – reported in aggregate form, on a daily basis – on the Italian Stock Exchange (MTA) as follows:
TradingDate (dd/mm/yyyy) | Stock Exchange | Average price per shareexcluding fees (€) | Considerationexcluding fees (€) | |
| 18/10/2021 | MTA | 7,250 | 191.3714 | 1,387,442.30 |
| 19/10/2021 | MTA | 4,966 | 191.8316 | 952,635.85 |
| 20/10/2021 | MTA | 6,701 | 192.6689 | 1,291,074.10 |
| 21/10/2021 | MTA | 5,565 | 191.6208 | 1,066,369.80 |
| 22/10/2021 | MTA | 7,512 | 192.5353 | 1,446,325.35 |
| Total | – | 31,994 | 192.0312 | 6,143,847.40 |
Since the announcement of the Fifth Tranche of the buyback program dated October 4, 2021 till October 22, 2021, the total invested consideration has been:•Euro 18,004,745.00 for No. 96,924 common shares purchased on the MTA.
As of October 22, 2021, the Company held in treasury No. 9,869,827 common shares equal to 3.84% 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.
Since January 1, 2019 until October 22, 2021, the Company has purchased a total of 4,684,501 own common shares on MTA and NYSE for a total consideration of Euro 671,426,447.24.
Ferrari N.V.Amsterdam, The Netherlands | Registered Office:Via Abetone Inferiore N. 4,I – 41053 Maranello (MO) Italy | Dutch trade registration number:64060977 |
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 (http://corporate.ferrari.com/en/investors/stock-and-shareholder-corner/buyback-programs).
For further information:Media Relationstel.: +39 0536 949337Email: [email protected]
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Ferrari is The Aristocrat of the automotive sector.
Ferrari finished Monday at 231.01 within its 52 wk range of 127.73 – 233.66 in NY. It’s all time high in NY was marked at 233.66 intraday on 29 December. RACE is now just 4.4% shy of its all time high.
Key technical indicators have turned Very Bullish across the board. The candlestick pattern indicated the confirmation of the break out at 196.01 on 3 November and confirmed.
The Key support is at 225.97 and the resistance is None. The 12 October DOJI told us the Bullish trend will continue. All of our Key technical indicators are Very Bullish now.
Friday, Morgan Stanley called out $RACE a “sleeper” EV play as the firm can justify more than 100% of the company’s value with its ICE business.
Note: At the beginning of Y 2020 I called RACE at 230 by year’s end, the stock was trading at 165.22 on 1 January 2020, on 29 December 2020 it marked 233.66 intraday, its all time high
The Maranello Outfit’s shares were raised to Buy from Hold at HSBC, and Buys at Morgan Stanley and Bank of America.
UBS is now calling the stock at 365. I have not seen any other Street downgrades.
Ferrari will continue to create value in the long term as it becomes the world’s 1st Super Luxury brand.
Ferrari is a quality 1st long term luxury products investment, BAML raised its call to 270 long term.
I have raised my long term target to 375, a Strong Bull call, the strongest on the Street and am holding the mark during this recent profit taking, and seeing RACE as a buying opportunity.
Ferrari has an average rating of Buy and a consensus target price at 231.99.
The Maranello Outfit’s shares were raised downgraded from Buy to Hold at HSBC.
Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I am calling it 375 long term, the Top on the Street, and adjusting it to 250/share short term.
A number of large investors have recently bought shares of RACE, and there have been very few instances of insider selling over the past yr that we have seen. And Ferrari continues to buy back its stock in here.
The stock is considered defensive in the sector.
Have a prosperous week, Keep the Faith!
